Pitcairn Co. Has $1.43 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Pitcairn Co. decreased its holdings in FedEx Co. (NYSE:FDX) by 9.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,239 shares of the shipping service provider’s stock after selling 521 shares during the quarter. Pitcairn Co.’s holdings in FedEx were worth $1,434,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Evermay Wealth Management LLC grew its holdings in shares of 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 during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth about $31,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter worth about $39,000. Abound Wealth Management grew its holdings in shares of 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 during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in FedEx during the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Robert W. Baird decreased their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Bank of America decreased their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. decreased 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. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Price Performance

NYSE:FDX opened at $299.97 on Friday. 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 firm has a fifty day simple moving average of $276.34 and a 200 day simple moving average of $277.54. The stock has a market capitalization of $73.29 billion, a PE ratio of 18.51, a P/E/G ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last released 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business posted $4.55 earnings per share. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. FedEx’s 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.