Ashton Thomas Private Wealth LLC Has $3.30 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Ashton Thomas Private Wealth LLC lowered its stake in FedEx Co. (NYSE:FDX) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,045 shares of the shipping service provider’s stock after selling 1,706 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in FedEx were worth $3,296,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Capital International Investors increased its stake in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Ameriprise Financial Inc. raised its holdings in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after acquiring an additional 121,240 shares during the last quarter. Finally, Sentry LLC increased its position in FedEx by 0.5% in the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock valued at $365,626,000 after acquiring an additional 6,657 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FDX. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday. Loop Capital decreased their price target on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Robert W. Baird lowered their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $315.42.

FedEx Price Performance

FedEx stock opened at $287.32 on Wednesday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company’s 50 day moving average price is $275.18 and its two-hundred day moving average price is $275.69. The stock has a market cap of $70.20 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.16 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last released its 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 business had revenue of $21.58 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.55 earnings per share. On average, equities analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.92%. FedEx’s payout ratio is currently 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.