Cary Street Partners Asset Management LLC Sells 256 Shares of FedEx Co. (NYSE:FDX)

Cary Street Partners Asset Management LLC lowered its position in FedEx Co. (NYSE:FDX) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,364 shares of the shipping service provider’s stock after selling 256 shares during the period. Cary Street Partners Asset Management LLC’s holdings in FedEx were worth $3,931,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FDX. Evermay Wealth Management LLC increased its position in shares of FedEx by 72.7% in the 3rd 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 in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter valued at $31,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management increased its position in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of FedEx in the 3rd quarter valued at $47,000. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 1.2 %

Shares of NYSE:FDX opened at $271.18 on Tuesday. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a market capitalization of $66.25 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17. The company has a 50-day simple moving average of $276.58 and a 200 day simple moving average of $275.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last issued 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 company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $4.55 earnings per share. Sell-side analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.04%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Stifel Nicolaus lowered their target price on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. TD Cowen lowered their target price on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Finally, Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Company 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.