Global Retirement Partners LLC Sells 494 Shares of FedEx Co. (NYSE:FDX)

Global Retirement Partners LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 11.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,993 shares of the shipping service provider’s stock after selling 494 shares during the quarter. Global Retirement Partners LLC’s holdings in FedEx were worth $1,093,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Park Avenue Securities LLC increased its position in shares of FedEx by 38.7% during the 1st quarter. Park Avenue Securities LLC now owns 5,530 shares of the shipping service provider’s stock valued at $1,602,000 after purchasing an additional 1,543 shares during the last quarter. &PARTNERS increased its position in shares of FedEx by 131.3% during the 1st quarter. &PARTNERS now owns 2,635 shares of the shipping service provider’s stock valued at $763,000 after purchasing an additional 1,496 shares during the last quarter. Cooper Financial Group increased its position in shares of FedEx by 8.6% during the 1st quarter. Cooper Financial Group now owns 3,146 shares of the shipping service provider’s stock valued at $912,000 after purchasing an additional 248 shares during the last quarter. Anderson Hoagland & Co. purchased a new stake in shares of FedEx during the 1st quarter valued at about $215,000. Finally, Baker Boyer National Bank purchased a new stake in shares of FedEx during the 1st quarter valued at about $218,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FDX. Wells Fargo & Company upped their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Stephens reissued an “overweight” rating and issued a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Bank of America reduced their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Stock Up 0.1 %

NYSE FDX opened at $274.40 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market capitalization of $67.52 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.06 and a beta of 1.17. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The stock has a 50 day moving average price of $280.10 and a 200-day moving average price of $275.00.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate 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 posted $4.55 earnings per share. As a group, equities analysts predict that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. FedEx’s dividend payout ratio is presently 32.04%.

About FedEx

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.