FedEx Co. (NYSE:FDX) Stock Position Decreased by CENTRAL TRUST Co

CENTRAL TRUST Co trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 7.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,882 shares of the shipping service provider’s stock after selling 492 shares during the period. CENTRAL TRUST Co’s holdings in FedEx were worth $1,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wealthcare Advisory Partners LLC raised its holdings in shares of FedEx by 7.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,924 shares of the shipping service provider’s stock valued at $558,000 after acquiring an additional 137 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of FedEx by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,508 shares of the shipping service provider’s stock valued at $10,868,000 after purchasing an additional 2,241 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in shares of FedEx by 4.1% in the first quarter. 180 Wealth Advisors LLC now owns 1,522 shares of the shipping service provider’s stock worth $441,000 after buying an additional 60 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of FedEx during the first quarter valued at $277,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in FedEx by 20.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,564 shares of the shipping service provider’s stock worth $1,322,000 after acquiring an additional 785 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $272.12 on Friday. The company has a market cap of $66.96 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.06 and a beta of 1.17. The business has a 50 day moving average price of $279.10 and a 200 day moving average price of $274.84. 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 twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $21.87 billion. During the same period in the prior year, the company posted $4.55 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. 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. Investors of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. BMO Capital Markets decreased their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $314.17.

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.