FedEx Co. (NYSE:FDX) Shares Sold by United Asset Strategies Inc.

United Asset Strategies Inc. decreased its position in FedEx Co. (NYSE:FDX) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 748 shares of the shipping service provider’s stock after selling 37 shares during the quarter. United Asset Strategies Inc.’s holdings in FedEx were worth $205,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Evermay Wealth Management LLC lifted its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of FedEx during the third quarter worth $31,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the second quarter worth $39,000. Abound Wealth Management raised its position in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Finally, Sachetta LLC raised its position in shares of 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 period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $274.09 on Friday. The business has a 50 day moving average price of $277.56 and a 200 day moving average price of $274.90. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a market cap of $66.97 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.10 and a beta of 1.17. 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 (NYSE:FDX) last posted its quarterly 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 analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $4.55 EPS. Research analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s dividend payout ratio (DPR) is 34.05%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research report on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Loop Capital lowered their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Finally, Citigroup initiated coverage on FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average target price of $314.17.

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.