AMG National Trust Bank Sells 361 Shares of FedEx Co. (NYSE:FDX)

AMG National Trust Bank lessened its holdings in FedEx Co. (NYSE:FDX) by 2.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 17,510 shares of the shipping service provider’s stock after selling 361 shares during the period. AMG National Trust Bank’s holdings in FedEx were worth $4,792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Evermay Wealth Management LLC lifted its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx during the third quarter valued at $31,000. Central Valley Advisors LLC bought a new stake in FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management lifted its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in FedEx during the third quarter valued at $47,000. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FDX. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Loop Capital cut their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. decreased their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. 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. Finally, Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Price Performance

Shares of NYSE FDX opened at $294.46 on Monday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. 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 firm has a market cap of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.23 and a beta of 1.17. The business’s 50 day moving average price is $275.40 and its 200 day moving average price is $276.48.

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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the business earned $4.55 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 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.