Bleakley Financial Group LLC Has $3.36 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Bleakley Financial Group LLC lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 32.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,275 shares of the shipping service provider’s stock after selling 5,882 shares during the period. Bleakley Financial Group LLC’s holdings in FedEx were worth $3,359,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FDX. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management increased its stake in FedEx by 175.9% in the second 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 boosted its position 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 purchasing an additional 37 shares in the last quarter. OFI Invest Asset Management boosted its position in shares of FedEx by 91.8% during the 1st quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock worth $50,000 after purchasing an additional 89 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in FedEx in the 2nd quarter valued at about $50,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

NYSE:FDX opened at $274.45 on Friday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business has a fifty day simple moving average of $280.10 and a two-hundred day simple moving average of $275.00. The company has a market capitalization of $67.54 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion during 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%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.55 earnings per share. On average, analysts expect that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. FedEx’s payout ratio is 32.04%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. Loop Capital decreased their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Evercore ISI dropped their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. 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 research report on Friday, September 20th. Finally, The Goldman Sachs Group cut their price target on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Company 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.