Planning Capital Management Corp Sells 431 Shares of FedEx Co. (NYSE:FDX)

Planning Capital Management Corp lessened its stake in shares of FedEx Co. (NYSE:FDX) by 40.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 627 shares of the shipping service provider’s stock after selling 431 shares during the period. Planning Capital Management Corp’s holdings in FedEx were worth $172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the 3rd quarter valued at $31,000. Central Valley Advisors LLC purchased a new stake in FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management boosted its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in FedEx during the 3rd quarter valued at $47,000. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Robert W. Baird cut their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Raymond James dropped their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Bank of America dropped their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Evercore ISI dropped their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Loop Capital dropped their price target on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Price Performance

Shares of NYSE FDX opened at $292.08 on Thursday. The business’s 50 day moving average price is $275.04 and its 200 day moving average price is $275.95. The firm has a market cap of $71.36 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.15 and a beta of 1.17. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. 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 released 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts expect that FedEx Co. will post 19.59 earnings per share 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 given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.89%. FedEx’s dividend payout ratio (DPR) is 34.05%.

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.