Brown Lisle Cummings Inc. Has $903,000 Position in FedEx Co. (NYSE:FDX)

Brown Lisle Cummings Inc. trimmed its position in shares of FedEx Co. (NYSE:FDX) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,300 shares of the shipping service provider’s stock after selling 299 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in FedEx were worth $903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its stake in FedEx by 38.7% in the 1st quarter. Park Avenue Securities LLC now owns 5,530 shares of the shipping service provider’s stock worth $1,602,000 after purchasing an additional 1,543 shares during the period. Global Assets Advisory LLC acquired a new stake in FedEx in the 1st quarter valued at approximately $6,087,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in FedEx in the 1st quarter valued at approximately $60,000. CGN Advisors LLC boosted its position in FedEx by 8.8% during the 1st quarter. CGN Advisors LLC now owns 7,580 shares of the shipping service provider’s stock worth $2,196,000 after acquiring an additional 610 shares during the last quarter. Finally, Jacobs & Co. CA boosted its position in FedEx by 1.2% during the 1st quarter. Jacobs & Co. CA now owns 45,913 shares of the shipping service provider’s stock worth $13,303,000 after acquiring an additional 547 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Oppenheimer restated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Finally, Evercore ISI cut their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Performance

Shares of 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. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The company’s 50 day moving average price is $280.10 and its two-hundred day moving average price is $274.98. The firm has a market cap of $67.52 billion, a PE ratio of 15.93, a PEG ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the business posted $4.55 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

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

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.