FedEx Co. (NYSE:FDX) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC decreased its position in FedEx Co. (NYSE:FDX) by 74.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,375 shares of the shipping service provider’s stock after selling 3,918 shares during the quarter. New Century Financial Group LLC’s holdings in FedEx were worth $376,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FDX. Raymond James & Associates boosted its position in shares of FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after purchasing an additional 31,241 shares in the last quarter. Blue Trust Inc. lifted its stake in FedEx by 112.0% during the third quarter. Blue Trust Inc. now owns 1,802 shares of the shipping service provider’s stock valued at $540,000 after purchasing an additional 952 shares during the last quarter. Riverview Trust Co boosted its holdings in FedEx by 13.5% during the third quarter. Riverview Trust Co now owns 839 shares of the shipping service provider’s stock worth $230,000 after buying an additional 100 shares in the last quarter. Accurate Wealth Management LLC grew its position in FedEx by 64.7% in the third quarter. Accurate Wealth Management LLC now owns 2,017 shares of the shipping service provider’s stock worth $536,000 after buying an additional 792 shares during the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of FedEx in the third quarter valued at $729,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FDX shares. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Argus boosted their price objective on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. TD Cowen decreased their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. JPMorgan Chase & Co. cut their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Finally, StockNews.com lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Sunday, October 6th. Two investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Price Performance

NYSE FDX opened at $274.40 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $67.52 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The company has a 50 day moving average price of $280.10 and a two-hundred day moving average price of $274.98.

FedEx (NYSE:FDX) last released 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 business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.55 EPS. As a group, equities analysts predict that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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