Nisa Investment Advisors LLC Sells 3,800 Shares of FedEx Co. (NYSE:FDX)

Nisa Investment Advisors LLC trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 4.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 89,027 shares of the shipping service provider’s stock after selling 3,800 shares during the quarter. Nisa Investment Advisors LLC’s holdings in FedEx were worth $24,490,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. grew its stake in FedEx by 20.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,564 shares of the shipping service provider’s stock worth $1,322,000 after buying an additional 785 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of FedEx during the 1st quarter worth approximately $205,000. Cullinan Associates Inc. bought a new position in FedEx in the first quarter valued at approximately $217,000. Carret Asset Management LLC raised its position in FedEx by 3.0% during the first quarter. Carret Asset Management LLC now owns 29,488 shares of the shipping service provider’s stock valued at $8,544,000 after purchasing an additional 847 shares in the last quarter. Finally, Olstein Capital Management L.P. lifted its stake in FedEx by 20.0% during the first quarter. Olstein Capital Management L.P. now owns 27,000 shares of the shipping service provider’s stock worth $7,823,000 after purchasing an additional 4,500 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

FDX stock opened at $275.45 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $278.57 and its 200 day simple moving average is $274.86. FedEx Co. has a 12-month low of $229.07 and a 12-month high of $313.84. The firm has a market cap of $67.30 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business 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 earned $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 2.00%. FedEx’s payout ratio is presently 34.05%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Raymond James lowered their target price on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Stifel Nicolaus cut their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target 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.