FedEx Co. (NYSE:FDX) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 8.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,480 shares of the shipping service provider’s stock after selling 920 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in FedEx were worth $2,594,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Central Valley Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management increased its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Sachetta LLC raised its position in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. ORG Partners LLC acquired a new position in shares of FedEx during the second quarter worth about $50,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of FedEx in the second quarter valued at about $56,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.3 %

NYSE:FDX opened at $272.12 on Friday. The firm has a market capitalization of $66.96 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.06 and a beta of 1.17. The business has a 50 day simple moving average of $279.10 and a 200 day simple moving average of $274.84. 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 12-month low of $224.69 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate 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 return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.55 EPS. Equities research analysts predict that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. FedEx’s dividend payout ratio is presently 32.04%.

Analyst Ratings Changes

A number of research firms have weighed in on FDX. Evercore ISI decreased their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Stifel Nicolaus decreased their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

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.