Gulf International Bank UK Ltd Sells 845 Shares of FedEx Co. (NYSE:FDX)

Gulf International Bank UK Ltd trimmed its stake in FedEx Co. (NYSE:FDX) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,879 shares of the shipping service provider’s stock after selling 845 shares during the quarter. Gulf International Bank UK Ltd’s holdings in FedEx were worth $5,166,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Evermay Wealth Management LLC increased its position in FedEx by 72.7% in the 3rd 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 bought a new stake in FedEx during the 3rd quarter valued at $31,000. Central Valley Advisors LLC bought a new stake in FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management raised its holdings in 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, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx in the 3rd quarter worth about $47,000. 84.47% of the stock is owned by institutional investors.

FedEx Trading Up 1.6 %

FedEx stock opened at $275.45 on Wednesday. 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 Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a market cap of $67.30 billion, a P/E ratio of 16.99, a PEG ratio of 1.10 and a beta of 1.17. The firm’s fifty day moving average price is $276.19 and its 200-day moving average price is $275.22.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business 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%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $4.55 EPS. Equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group decreased their price objective on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Bank of America dropped 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. Raymond James reduced their target price on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Loop Capital dropped their price target on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Finally, BMO Capital Markets cut their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $314.17.

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.