FedEx Co. (NYSE:FDX) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lowered its position in FedEx Co. (NYSE:FDX) by 25.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,926 shares of the shipping service provider’s stock after selling 649 shares during the period. Moors & Cabot Inc.’s holdings in FedEx were worth $527,000 as of its most recent filing with the Securities & Exchange Commission.

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

FedEx Stock Performance

FedEx stock opened at $299.97 on Friday. The stock has a fifty day moving average price of $276.34 and a 200 day moving average price of $277.42. 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 52 week low of $234.45 and a 52 week high of $313.84. The firm has a market capitalization of $73.29 billion, a P/E ratio of 18.51, a PEG ratio of 1.22 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Equities research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. FedEx’s dividend payout ratio is presently 34.05%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Evercore ISI reduced their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Loop Capital lowered their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

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.