MidWestOne Financial Group Inc. Sells 935 Shares of FedEx Co. (NYSE:FDX)

MidWestOne Financial Group Inc. decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 42.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,286 shares of the shipping service provider’s stock after selling 935 shares during the period. MidWestOne Financial Group Inc.’s holdings in FedEx were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDX. International Assets Investment Management LLC lifted its stake in FedEx by 473.8% during the third 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 FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. World Investment Advisors LLC lifted its stake in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the period. Ceredex Value Advisors LLC lifted its stake in FedEx by 77.8% during the third 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 bought a new position in FedEx during the second quarter worth about $46,475,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $279.29 on Wednesday. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The stock has a market cap of $68.24 billion, a PE ratio of 17.23, a PEG ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm’s 50 day moving average price is $279.93 and its two-hundred day moving average price is $280.38.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FDX. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.68.

FedEx Company 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.