Equitable Trust Co. Increases Holdings in FedEx Co. (NYSE:FDX)

Equitable Trust Co. raised its stake in FedEx Co. (NYSE:FDX) by 13.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,706 shares of the shipping service provider’s stock after buying an additional 891 shares during the quarter. Equitable Trust Co.’s holdings in FedEx were worth $2,109,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FDX. Evermay Wealth Management LLC lifted its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx in the 3rd quarter valued at $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx during the 2nd quarter worth $39,000. Abound Wealth Management increased its position in shares of FedEx by 175.9% during 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 during the last quarter. Finally, Sachetta LLC raised its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 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 weighed in on FDX shares. Raymond James dropped their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Bernstein Bank lifted their target price on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. decreased their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. HSBC lowered 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. Finally, UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Up 1.1 %

FedEx stock opened at $286.28 on Friday. The stock has a market cap of $69.94 billion, a PE ratio of 17.66, a P/E/G ratio of 1.13 and a beta of 1.17. 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 stock’s fifty day moving average is $275.36 and its two-hundred day moving average is $275.43. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last issued its 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 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% on a year-over-year basis. During the same period last year, the business posted $4.55 EPS. On average, sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Monday, September 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.