M&T Bank Corp Sells 1,894 Shares of FedEx Co. (NYSE:FDX)

M&T Bank Corp lessened its stake in FedEx Co. (NYSE:FDXFree Report) by 1.3% in the third quarter, HoldingsChannel reports. The fund owned 142,217 shares of the shipping service provider’s stock after selling 1,894 shares during the period. M&T Bank Corp’s holdings in FedEx were worth $38,922,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Evermay Wealth Management LLC lifted its position in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx during the 3rd quarter valued at $31,000. Abound Wealth Management raised its holdings in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in FedEx during the 3rd quarter valued at $47,000. Finally, Sachetta LLC grew its holdings 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 acquiring an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on FedEx from $366.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday. Bernstein Bank raised their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Robert W. Baird reduced their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $324.88.

Read Our Latest Stock Report on FedEx

FedEx Stock Performance

Shares of FDX opened at $275.73 on Friday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The business’s fifty day simple moving average is $282.71 and its two-hundred day simple moving average is $281.85. 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 market cap of $67.37 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDXGet Free Report) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.99 EPS. Research analysts anticipate 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 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is 34.05%.

FedEx Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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