Legacy Capital Group California Inc. Sells 40 Shares of FedEx Co. (NYSE:FDX)

Legacy Capital Group California Inc. reduced its position in FedEx Co. (NYSE:FDX) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 996 shares of the shipping service provider’s stock after selling 40 shares during the period. Legacy Capital Group California Inc.’s holdings in FedEx were worth $273,000 as of its most recent SEC filing.

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

FedEx Price Performance

FDX opened at $272.12 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The stock’s 50 day simple moving average is $279.10 and its 200 day simple moving average is $274.84. The firm 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.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during 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%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.55 earnings per share. As a group, analysts predict that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

Wall Street Analyst Weigh In

Several brokerages recently commented on FDX. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. UBS Group lowered their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, 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 report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.