Commonwealth Equity Services LLC Sells 1,664 Shares of FedEx Co. (NYSE:FDX)

Commonwealth Equity Services LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,859 shares of the shipping service provider’s stock after selling 1,664 shares during the quarter. Commonwealth Equity Services LLC’s holdings in FedEx were worth $41,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of FedEx in the 1st quarter worth approximately $1,667,000. Allegheny Financial Group LTD bought a new position in FedEx in the first quarter worth $203,000. Hilltop National Bank purchased a new position in FedEx during the first quarter valued at $476,000. Csenge Advisory Group boosted its holdings in shares of FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after buying an additional 298 shares in the last quarter. Finally, Czech National Bank grew its position in shares of FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after buying an additional 2,767 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 0.1 %

FDX opened at $274.40 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The company has a market capitalization of $67.52 billion, a PE ratio of 15.93, a PEG ratio of 1.06 and a beta of 1.17. The firm’s 50 day simple moving average is $280.10 and its two-hundred day simple moving average is $274.98.

FedEx (NYSE:FDX) last announced 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business posted $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on FDX shares. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Wells Fargo & Company upped their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group lowered their price objective on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Susquehanna cut their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Finally, Robert W. Baird reduced their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

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.