EverSource Wealth Advisors LLC Sells 219 Shares of FedEx Co. (NYSE:FDX)

EverSource Wealth Advisors LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,509 shares of the shipping service provider’s stock after selling 219 shares during the period. EverSource Wealth Advisors LLC’s holdings in FedEx were worth $3,424,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx in the third quarter worth $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx in the 2nd quarter worth about $39,000. Abound Wealth Management lifted its position in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in FedEx in the third quarter worth about $47,000. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

Shares of NYSE FDX traded down $1.76 during trading on Wednesday, hitting $291.30. The company had a trading volume of 48,532 shares, compared to its average volume of 1,795,090. The stock has a 50 day simple moving average of $275.82 and a 200 day simple moving average of $276.94. The firm has a market capitalization of $71.17 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 EPS. As a group, analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. FedEx’s payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FDX shares. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. UBS Group decreased their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. The Goldman Sachs Group decreased their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. JPMorgan Chase & Co. reduced their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Finally, BMO Capital Markets decreased their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.