Westhampton Capital LLC Sells 40 Shares of FedEx Co. (NYSE:FDX)

Westhampton Capital LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,580 shares of the shipping service provider’s stock after selling 40 shares during the period. Westhampton Capital LLC’s holdings in FedEx were worth $432,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FDX. SeaCrest Wealth Management LLC boosted its stake in 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 period. LRI Investments LLC increased its position in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares during the period. Ascent Wealth Partners LLC raised its stake in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC boosted its holdings in FedEx by 2.4% in 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 period. Finally, Sachetta LLC grew its position in FedEx by 29.1% in 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. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

Shares of FDX stock opened at $269.79 on Wednesday. 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 Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The firm has a market cap of $66.39 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.06 and a beta of 1.17. The stock has a 50-day moving average price of $279.63 and a 200 day moving average price of $274.90.

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 net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the company earned $4.55 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is 32.04%.

Analysts Set New Price Targets

FDX has been the subject of several research reports. UBS Group reduced their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Bank of America reduced their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating 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 assigned a buy rating to the company. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $314.17.

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.