Archer Investment Corp Has $1.06 Million Stock Position in FedEx Co. (NYSE:FDX)

Archer Investment Corp cut its stake in FedEx Co. (NYSE:FDX) by 22.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,867 shares of the shipping service provider’s stock after selling 1,150 shares during the period. Archer Investment Corp’s holdings in FedEx were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in FedEx in the 2nd quarter worth about $9,226,000. Raymond James & Associates boosted its holdings in FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after purchasing an additional 31,241 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of FedEx during the second quarter worth approximately $22,052,000. Finally, Versor Investments LP acquired a new stake in shares of FedEx in the third quarter valued at approximately $2,096,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BMO Capital Markets decreased their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Bernstein Bank boosted their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Barclays boosted their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stifel Nicolaus dropped their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Citigroup increased their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Price Performance

Shares of FedEx stock traded up $3.03 during trading hours on Friday, hitting $295.32. The company’s stock had a trading volume of 134,693 shares, compared to its average volume of 1,799,731. The company has a market cap of $72.15 billion, a PE ratio of 18.16, a PEG ratio of 1.17 and a beta of 1.17. The business has a 50 day moving average price of $275.18 and a two-hundred day moving average price of $276.07. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. 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 earnings results 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 firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $4.55 earnings per share. Analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

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.