Phillips Wealth Planners LLC Has $389,000 Position in FedEx Co. (NYSE:FDX)

Phillips Wealth Planners LLC trimmed its position in FedEx Co. (NYSE:FDX) by 18.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,431 shares of the shipping service provider’s stock after selling 329 shares during the quarter. Phillips Wealth Planners LLC’s holdings in FedEx were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx during the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC bought a new position in FedEx in the 2nd quarter valued at approximately $39,000. Abound Wealth Management grew its stake in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Finally, Sachetta LLC increased its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stephens reaffirmed an “overweight” rating and issued a $350.00 target price on shares of FedEx in a report on Friday, September 20th. The Goldman Sachs Group lowered their price objective on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Raymond James cut their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Robert W. Baird reduced their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” 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 issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Stock Performance

Shares of FDX stock opened at $274.34 on Friday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The firm’s 50-day simple moving average is $277.10 and its two-hundred day simple moving average is $274.96. The firm has a market cap of $67.03 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.10 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.55 EPS. As a group, equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s dividend payout ratio is currently 34.05%.

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.