Archer Investment Corp Lowers Holdings in FedEx Co. (NYSE:FDX)

Archer Investment Corp reduced its position in FedEx Co. (NYSE:FDX) by 22.9% during the third quarter, Holdings Channel reports. The institutional investor owned 3,867 shares of the shipping service provider’s stock after selling 1,150 shares during the quarter. Archer Investment Corp’s holdings in FedEx were worth $1,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Koshinski Asset Management Inc. boosted its stake in shares of FedEx by 13.2% in the first quarter. Koshinski Asset Management Inc. now owns 1,548 shares of the shipping service provider’s stock worth $448,000 after buying an additional 180 shares during the last quarter. ProVise Management Group LLC purchased a new stake in shares of FedEx in the 1st quarter valued at approximately $209,000. Mizuho Markets Cayman LP boosted its position in shares of FedEx by 115.5% during the first quarter. Mizuho Markets Cayman LP now owns 4,453 shares of the shipping service provider’s stock worth $1,290,000 after buying an additional 33,246 shares during the period. Councilmark Asset Management LLC purchased a new position in FedEx during the 1st quarter valued at about $587,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of FedEx in the first quarter worth $227,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX traded up $3.03 during trading on Friday, hitting $295.32. 134,693 shares of the company’s stock were exchanged, compared to its average volume of 1,799,731. The stock’s 50 day moving average price is $275.18 and its two-hundred day moving average price is $276.07. 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 fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a market cap of $72.15 billion, a PE ratio of 18.16, a P/E/G ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX) last released 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). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.55 EPS. Research analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. FedEx’s dividend payout ratio is currently 34.05%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FDX. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America cut their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Barclays increased their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Finally, HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note 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 data from MarketBeat.com, FedEx presently has a consensus 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.