Integrated Advisors Network LLC Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Integrated Advisors Network LLC cut its holdings in FedEx Co. (NYSE:FDX) by 65.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 914 shares of the shipping service provider’s stock after selling 1,709 shares during the quarter. Integrated Advisors Network LLC’s holdings in FedEx were worth $250,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have issued reports on FDX. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $215.00 to $200.00 in a report on Friday, September 20th. Loop Capital reduced their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Robert W. Baird reduced their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Stock Performance

Shares of FDX opened at $274.34 on Friday. 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 $234.45 and a 12-month high of $313.84. The business’s fifty day moving average price is $277.10 and its 200 day moving average price is $274.96. The stock has a market capitalization of $67.03 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17.

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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 EPS. The firm’s revenue was down .5% on a year-over-year basis. Equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is 34.05%.

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.