Moody National Bank Trust Division trimmed its position in FedEx Co. (NYSE:FDX) by 1.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 26,185 shares of the shipping service provider’s stock after selling 370 shares during the quarter. Moody National Bank Trust Division’s holdings in FedEx were worth $3,812,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its stake in FedEx by 9.5% during the 2nd quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock valued at $2,654,161,000 after purchasing an additional 1,395,988 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in FedEx by 3.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,620,516 shares of the shipping service provider’s stock valued at $594,453,000 after purchasing an additional 106,871 shares during the last quarter. Parnassus Investments CA boosted its stake in FedEx by 2,614.2% during the 2nd quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock valued at $574,644,000 after purchasing an additional 3,370,929 shares during the last quarter. LSV Asset Management boosted its stake in FedEx by 21.5% during the 2nd quarter. LSV Asset Management now owns 2,413,416 shares of the shipping service provider’s stock valued at $396,258,000 after purchasing an additional 426,529 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of FedEx by 26.7% in the 2nd quarter. Morgan Stanley now owns 2,025,572 shares of the shipping service provider’s stock worth $332,579,000 after buying an additional 427,019 shares during the last quarter. 71.33% of the stock is owned by institutional investors and hedge funds.
FDX has been the topic of a number of research analyst reports. UBS Group cut their target price on FedEx from $136.00 to $132.00 and set a “sell” rating on the stock in a research note on Wednesday, September 18th. Citigroup cut their target price on FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Loop Capital cut their target price on FedEx to $200.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. BMO Capital Markets downgraded FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $190.00 to $165.00 in a research note on Wednesday, September 18th. Finally, Oppenheimer cut their target price on FedEx from $176.00 to $167.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $171.64.
NYSE:FDX opened at $149.91 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $39.32 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.04 and a beta of 1.72. The firm’s 50 day moving average is $152.91 and its 200 day moving average is $165.90. FedEx Co. has a 12 month low of $137.78 and a 12 month high of $234.49.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.12). FedEx had a return on equity of 21.15% and a net margin of 0.65%. The company had revenue of $17.05 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period last year, the firm posted $3.46 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 12.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a yield of 1.73%. FedEx’s payout ratio is 16.75%.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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