FedEx Co. (NYSE:FDX) Shares Sold by CKW Financial Group

CKW Financial Group cut its stake in FedEx Co. (NYSE:FDX) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 700 shares of the shipping service provider’s stock after selling 100 shares during the period. CKW Financial Group’s holdings in FedEx were worth $189,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx in the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC acquired a new stake in FedEx in the 2nd quarter valued at approximately $39,000. Abound Wealth Management raised its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Finally, Sachetta LLC boosted its position in FedEx by 29.1% during the 2nd 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.

FedEx Stock Down 1.7 %

FedEx stock traded down $5.17 during trading hours on Tuesday, hitting $299.98. The company had a trading volume of 525,004 shares, compared to its average volume of 1,797,236. The firm’s fifty day moving average is $276.59 and its 200-day moving average is $277.98. The firm has a market capitalization of $73.29 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.17. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the business posted $4.55 earnings per share. FedEx’s revenue was down .5% on a year-over-year basis. On average, research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is presently 34.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Bernstein Bank upped their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Citigroup boosted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Loop Capital decreased their price target on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Two 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.