Capital Investment Counsel Inc Lowers Position in FedEx Co. (NYSE:FDX)

Capital Investment Counsel Inc trimmed its stake in shares of FedEx Co. (NYSE:FDX) by 8.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,113 shares of the shipping service provider’s stock after selling 2,144 shares during the period. FedEx comprises 0.9% of Capital Investment Counsel Inc’s holdings, making the stock its 20th biggest position. Capital Investment Counsel Inc’s holdings in FedEx were worth $6,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Dynamic Advisor Solutions LLC increased its holdings in shares of FedEx by 1.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,326 shares of the shipping service provider’s stock worth $1,833,000 after purchasing an additional 100 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of FedEx by 7.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,924 shares of the shipping service provider’s stock valued at $558,000 after acquiring an additional 137 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of FedEx by 6.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,508 shares of the shipping service provider’s stock valued at $10,868,000 after purchasing an additional 2,241 shares in the last quarter. 180 Wealth Advisors LLC increased its position in FedEx by 4.1% in the first quarter. 180 Wealth Advisors LLC now owns 1,522 shares of the shipping service provider’s stock worth $441,000 after purchasing an additional 60 shares during the last quarter. Finally, Buckley Wealth Management LLC raised its stake in FedEx by 1.5% during the first quarter. Buckley Wealth Management LLC now owns 3,805 shares of the shipping service provider’s stock valued at $1,102,000 after purchasing an additional 55 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Down 0.7 %

Shares of NYSE FDX opened at $268.02 on Thursday. The stock has a market capitalization of $65.95 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. 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 12-month low of $224.69 and a 12-month high of $313.84. The stock’s fifty day simple moving average is $279.32 and its two-hundred day simple moving average is $274.85.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 EPS. As a group, analysts expect that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Announces Dividend

The company 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. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.06%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FDX. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Stephens reissued an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Wells Fargo & Company raised their price objective on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. BMO Capital Markets decreased their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Finally, Susquehanna dropped their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus 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.