Fiduciary Trust Co Has $902,000 Holdings in FedEx Co. (NYSE:FDX)

Fiduciary Trust Co increased its holdings in shares of FedEx Co. (NYSE:FDX) by 45.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,294 shares of the shipping service provider’s stock after purchasing an additional 1,031 shares during the quarter. Fiduciary Trust Co’s holdings in FedEx were worth $902,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Evermay Wealth Management LLC boosted its stake in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter valued at approximately $31,000. Central Valley Advisors LLC bought a new position in FedEx in the second quarter valued at approximately $39,000. Abound Wealth Management increased 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 during the last quarter. Finally, Sachetta LLC increased its position in shares of FedEx by 29.1% during the 2nd 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. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.2 %

NYSE FDX opened at $302.74 on Friday. The company has a market cap of $73.97 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.27 and a beta of 1.17. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $277.83 and a 200-day moving average of $278.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the company posted $4.55 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced 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. This represents a $5.52 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

FDX has been the subject of several analyst reports. Stifel Nicolaus decreased their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Citigroup boosted their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Susquehanna cut their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, Stephens reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of FedEx 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 issued a buy rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target 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.