Circle Wealth Management LLC Decreases Stake in FedEx Co. (NYSE:FDX)

Circle Wealth Management LLC reduced its stake in FedEx Co. (NYSE:FDX) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,814 shares of the shipping service provider’s stock after selling 341 shares during the period. Circle Wealth Management LLC’s holdings in FedEx were worth $1,044,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FDX. Rockefeller Capital Management L.P. grew its position in shares of FedEx by 117.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,974 shares of the shipping service provider’s stock worth $21,343,000 after buying an additional 42,034 shares during the last quarter. Northwest & Ethical Investments L.P. grew its position in shares of FedEx by 11.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 21,778 shares of the shipping service provider’s stock worth $5,960,000 after buying an additional 2,214 shares during the last quarter. Vinva Investment Management Ltd grew its position in shares of FedEx by 139.1% in the 3rd quarter. Vinva Investment Management Ltd now owns 10,033 shares of the shipping service provider’s stock worth $2,684,000 after buying an additional 5,836 shares during the last quarter. Fiduciary Trust Co grew its position in shares of FedEx by 45.6% in the 3rd quarter. Fiduciary Trust Co now owns 3,294 shares of the shipping service provider’s stock worth $902,000 after buying an additional 1,031 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of FedEx by 27.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,433 shares of the shipping service provider’s stock worth $33,234,000 after buying an additional 26,260 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX opened at $302.74 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $277.83 and a two-hundred day simple moving average of $278.84. The stock has a market cap of $73.97 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.27 and a beta of 1.17. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company 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 business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.55 EPS. On average, analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FDX. Barclays lifted their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. TD Cowen dropped their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bank of America dropped their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

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.