FedEx Co. (NYSE:FDX) Shares Sold by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 7.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,638 shares of the shipping service provider’s stock after selling 129 shares during the quarter. WealthPlan Investment Management LLC’s holdings in FedEx were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FDX. Evermay Wealth Management LLC boosted its position 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 stake in FedEx during the third quarter worth $31,000. Central Valley Advisors LLC acquired a new stake in FedEx during the second quarter valued at $39,000. Abound Wealth Management increased its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Sachetta LLC raised its position in shares of FedEx by 29.1% in 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 period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on FDX. Bernstein Bank lifted their price target on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Finally, UBS Group dropped their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $315.42.

FedEx Stock Down 0.9 %

Shares of NYSE:FDX opened at $287.32 on Wednesday. The company has a market capitalization of $70.20 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.15 and a beta of 1.17. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The business has a 50-day moving average price of $275.18 and a 200 day moving average price of $275.69. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 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 company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.92%. FedEx’s dividend payout ratio is presently 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.