Benin Management CORP Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

Benin Management CORP reduced its stake in shares of FedEx Co. (NYSE:FDX) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,148 shares of the shipping service provider’s stock after selling 120 shares during the quarter. FedEx accounts for approximately 1.2% of Benin Management CORP’s holdings, making the stock its 14th largest holding. Benin Management CORP’s holdings in FedEx were worth $4,419,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FDX. SeaCrest Wealth Management LLC increased its holdings in FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC increased its holdings in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC increased its holdings in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC increased its holdings in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC increased its holdings 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 purchasing an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. decreased their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Raymond James decreased their target price on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Trading Down 0.7 %

Shares of FedEx stock traded down $1.97 on Monday, reaching $272.43. 171,044 shares of the company were exchanged, compared to its average volume of 1,841,703. The stock has a fifty day moving average price of $280.10 and a 200-day moving average price of $274.98. The firm has a market capitalization of $67.04 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. 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 Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned $4.55 earnings per share. On average, analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is 32.04%.

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.