CENTRAL TRUST Co trimmed its stake in shares of FedEx Co. (NYSE:FDX – Free Report) 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 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.
Read Our Latest Stock Analysis on FedEx
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.
See Also
- Five stocks we like better than FedEx
- The 3 Best Retail Stocks to Shop for in August
- Texas Roadhouse Stock Steering for New Highs This Year
- Where to Find Earnings Call Transcripts
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- How to Calculate Options Profits
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX – Free Report).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.