Sunbelt Securities Inc. Increases Stake in FedEx Co. (NYSE:FDX)

Sunbelt Securities Inc. boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 57.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,083 shares of the shipping service provider’s stock after buying an additional 397 shares during the quarter. Sunbelt Securities Inc.’s holdings in FedEx were worth $296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC boosted its holdings in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC boosted its stake in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC grew its position in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares in the last quarter. Detalus Advisors LLC increased its stake in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after buying an additional 37 shares during the period. Finally, Sachetta LLC raised its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FDX. BMO Capital Markets dropped their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” 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 target price on the stock. in a report on Friday, September 20th. Susquehanna decreased their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Stephens reiterated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Finally, StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Performance

Shares of NYSE FDX opened at $283.34 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. The company has a market cap of $69.23 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a 50-day simple moving average of $281.30 and a 200-day simple moving average of $280.87. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business 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 quarter last year, the firm posted $4.55 earnings per share. On average, equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. FedEx’s payout ratio is 34.05%.

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.