Braun Stacey Associates Inc. Trims Stock Position in FedEx Co. (NYSE:FDX)

Braun Stacey Associates Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 67.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,639 shares of the shipping service provider’s stock after selling 30,858 shares during the quarter. Braun Stacey Associates Inc.’s holdings in FedEx were worth $4,006,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FDX. Capital International Investors raised its position in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the period. International Assets Investment Management LLC raised its holdings in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of 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 purchasing an additional 578,350 shares in the last quarter. Ceredex Value Advisors LLC grew its holdings in shares of FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after purchasing an additional 161,022 shares during the period. Finally, Empyrean Capital Partners LP acquired a new stake in FedEx during the 2nd quarter worth approximately $46,475,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $294.46 on Monday. The company has a market capitalization of $71.94 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.23 and a beta of 1.17. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $275.40 and its 200-day simple moving average 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 for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business 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 earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. Stephens reissued an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Bank of America decreased their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $215.00 to $200.00 in a report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Two investment 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, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

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.