Signaturefd LLC Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Signaturefd LLC cut its stake in FedEx Co. (NYSE:FDX) by 16.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,066 shares of the shipping service provider’s stock after selling 992 shares during the period. Signaturefd LLC’s holdings in FedEx were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several analysts have recently commented on FDX shares. Argus lifted their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. TD Cowen lowered their price target on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Stifel Nicolaus reduced their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Susquehanna decreased their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Stock Down 0.7 %

FDX stock opened at $268.02 on Thursday. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company’s 50 day moving average price is $279.32 and its 200 day moving average price is $274.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market capitalization of $65.95 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm posted $4.55 earnings per share. On average, equities research analysts anticipate that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed 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 2.06%. FedEx’s payout ratio is currently 32.04%.

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.