Private Trust Co. NA Trims Stock Position in FedEx Co. (NYSE:FDX)

Private Trust Co. NA trimmed its stake in FedEx Co. (NYSE:FDX) by 5.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,656 shares of the shipping service provider’s stock after selling 152 shares during the period. Private Trust Co. NA’s holdings in FedEx were worth $727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC increased its position in shares of FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC grew its position in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares during the last quarter. Ascent Wealth Partners LLC raised its position in FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC raised its position in FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC grew its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 0.7 %

Shares of FDX opened at $302.95 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The stock has a market cap of $74.02 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.25 and a beta of 1.17. The firm has a 50 day simple moving average of $276.70 and a 200-day simple moving average of $278.25.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during 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%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 earnings per share. Equities analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Wall Street Analyst Weigh In

FDX has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Robert W. Baird decreased their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Loop Capital lowered their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target 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.