FedEx Co. (NYSE:FDX) Holdings Reduced by Primecap Management Co. CA

Primecap Management Co. CA trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,709,330 shares of the shipping service provider’s stock after selling 80,090 shares during the period. FedEx accounts for 2.6% of Primecap Management Co. CA’s portfolio, making the stock its 6th largest holding. Primecap Management Co. CA owned approximately 5.20% of FedEx worth $3,478,289,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. SeaCrest Wealth Management LLC increased its position in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC raised its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after acquiring an additional 36 shares during the period. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC grew its holdings in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC lifted its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

NYSE FDX opened at $288.03 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a 50-day moving average of $275.89 and a 200 day moving average of $277.02. The stock has a market capitalization of $70.37 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.22 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly 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). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.55 earnings per share. Sell-side analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.92%. FedEx’s payout ratio is 34.05%.

Analyst Ratings Changes

FDX has been the topic of several recent analyst reports. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Barclays boosted their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lowered their price target on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Bernstein Bank raised their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

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.