Joel Isaacson & Co. LLC Reduces Stake in FedEx Co. (NYSE:FDX)

Joel Isaacson & Co. LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 11.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,696 shares of the shipping service provider’s stock after selling 213 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in FedEx were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of FDX. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter worth $39,000. Abound Wealth Management lifted its position in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Sachetta LLC grew its stake in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the period. ORG Partners LLC purchased a new stake in FedEx in the 2nd quarter worth about $50,000. Finally, TruNorth Capital Management LLC bought a new stake in FedEx in the 2nd quarter valued at about $56,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.3 %

Shares of FDX opened at $272.12 on Friday. The firm has a market cap of $66.48 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.08 and a beta of 1.17. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The stock has a 50 day simple moving average of $278.83 and a two-hundred day simple moving average of $274.81. 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 (NYSE:FDX) last released its 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 business 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%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $4.55 EPS. On average, analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

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 dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is presently 34.05%.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. dropped their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Finally, HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.