Kavar Capital Partners Group LLC Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

Kavar Capital Partners Group LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,679 shares of the shipping service provider’s stock after selling 143 shares during the period. Kavar Capital Partners Group LLC’s holdings in FedEx were worth $4,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its position in FedEx by 2.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 147,268 shares of the shipping service provider’s stock valued at $39,332,000 after acquiring an additional 4,049 shares during the period. GHP Investment Advisors Inc. grew its position in FedEx by 0.4% during the third quarter. GHP Investment Advisors Inc. now owns 29,275 shares of the shipping service provider’s stock valued at $8,012,000 after acquiring an additional 126 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in FedEx by 2.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 45,101 shares of the shipping service provider’s stock valued at $12,343,000 after acquiring an additional 1,203 shares during the period. PFG Investments LLC grew its position in FedEx by 9.8% during the third quarter. PFG Investments LLC now owns 5,084 shares of the shipping service provider’s stock valued at $1,391,000 after acquiring an additional 452 shares during the period. Finally, Horizon Bancorp Inc. IN grew its position in FedEx by 291.5% during the third quarter. Horizon Bancorp Inc. IN now owns 642 shares of the shipping service provider’s stock valued at $176,000 after acquiring an additional 478 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FDX shares. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Friday, September 20th. Stifel Nicolaus lowered their price target on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Robert W. Baird reduced their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets reduced their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Trading Down 0.3 %

Shares of NYSE FDX opened at $272.12 on Friday. The stock’s 50 day moving average price is $278.83 and its two-hundred day moving average price is $274.81. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The stock has a market capitalization of $66.48 billion, a P/E ratio of 16.79, a PEG ratio of 1.08 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 announced its quarterly earnings data 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 net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is currently 34.05%.

FedEx 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.