FedEx Co. (NYSE:FDX) Shares Sold by Indie Asset Partners LLC

Indie Asset Partners LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 869 shares of the shipping service provider’s stock after selling 95 shares during the quarter. Indie Asset Partners LLC’s holdings in FedEx were worth $238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Princeton Global Asset Management LLC raised its stake in shares of FedEx by 59.2% in the 3rd quarter. Princeton Global Asset Management LLC now owns 796 shares of the shipping service provider’s stock valued at $218,000 after acquiring an additional 296 shares during the period. Fullcircle Wealth LLC increased its holdings in FedEx by 12.9% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,014 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 116 shares during the last quarter. VELA Investment Management LLC raised its position in FedEx by 1,103.8% in the third quarter. VELA Investment Management LLC now owns 5,453 shares of the shipping service provider’s stock valued at $1,492,000 after purchasing an additional 5,000 shares during the period. F M Investments LLC lifted its stake in FedEx by 3.9% during the third quarter. F M Investments LLC now owns 6,527 shares of the shipping service provider’s stock worth $1,764,000 after purchasing an additional 247 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in shares of 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 buying an additional 161,022 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of FDX opened at $274.35 on Friday. 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 Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The stock has a market cap of $67.03 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17. The firm has a fifty day moving average price of $277.10 and a 200 day moving average price of $275.03.

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 firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.55 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently issued reports on FDX. Loop Capital cut their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Bank of America reduced their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. UBS Group cut their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $314.17.

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.