FedEx Co. (NYSE:FDX) Shares Sold by Forum Financial Management LP

Forum Financial Management LP cut its holdings in FedEx Co. (NYSE:FDX) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,677 shares of the shipping service provider’s stock after selling 43 shares during the period. Forum Financial Management LP’s holdings in FedEx were worth $733,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its stake in shares of FedEx by 62.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 44,760 shares of the shipping service provider’s stock valued at $12,250,000 after buying an additional 17,129 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx during the 3rd quarter valued at $47,000. Princeton Global Asset Management LLC boosted its position in FedEx by 59.2% during the 3rd quarter. Princeton Global Asset Management LLC now owns 796 shares of the shipping service provider’s stock worth $218,000 after purchasing an additional 296 shares during the period. Fullcircle Wealth LLC boosted its position in FedEx by 12.9% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,014 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 116 shares during the period. Finally, VELA Investment Management LLC boosted its position in FedEx by 1,103.8% during the 3rd quarter. VELA Investment Management LLC now owns 5,453 shares of the shipping service provider’s stock worth $1,492,000 after purchasing an additional 5,000 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX opened at $271.18 on Tuesday. The firm has a market cap of $66.25 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.10 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’s 50-day moving average price is $276.58 and its 200 day moving average price is $275.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its earnings results 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the company posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. Robert W. Baird decreased their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. BMO Capital Markets decreased their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. The Goldman Sachs Group decreased their price target on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Stifel Nicolaus cut their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Bank of America cut their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target 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.