Telos Capital Management Inc. Trims Holdings in FedEx Co. (NYSE:FDX)

Telos Capital Management Inc. reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 18,965 shares of the shipping service provider’s stock after selling 2,899 shares during the period. Telos Capital Management Inc.’s holdings in FedEx were worth $5,190,000 as of its most recent filing with the SEC.

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

FedEx Stock Down 2.1 %

NYSE:FDX opened at $268.73 on Tuesday. The stock has a 50-day simple moving average of $279.89 and a 200 day simple moving average of $274.93. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a market capitalization of $66.13 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. 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 released its quarterly earnings data 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 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%. FedEx’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 EPS. Sell-side analysts predict that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given 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 2.05%. FedEx’s dividend payout ratio is presently 32.04%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FDX shares. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. HSBC downgraded shares of 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. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Two equities 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $314.17.

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.