AMG National Trust Bank Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

AMG National Trust Bank trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,510 shares of the shipping service provider’s stock after selling 361 shares during the quarter. AMG National Trust Bank’s holdings in FedEx were worth $4,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Czech National Bank lifted its holdings in FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after purchasing an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in FedEx in the 2nd quarter valued at about $9,226,000. Raymond James & Associates boosted its holdings in FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after buying an additional 31,241 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in FedEx during the 2nd quarter worth approximately $22,052,000. Finally, Versor Investments LP acquired a new position in shares of FedEx during the third quarter valued at approximately $2,096,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.7 %

FedEx stock opened at $294.46 on Monday. The stock has a 50-day simple moving average of $275.40 and a 200-day simple moving average of $276.48. The company has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted 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 firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the company posted $4.55 earnings per share. FedEx’s revenue was down .5% compared to the same quarter last year. Equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Evercore ISI dropped their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Stifel Nicolaus lowered their price target 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. UBS Group decreased their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Susquehanna dropped their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.