FedEx Co. (NYSE:FDX) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC reduced its stake in shares of FedEx Co. (NYSE:FDX) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,523 shares of the shipping service provider’s stock after selling 42 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in FedEx were worth $1,238,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FDX. Capital International Investors grew its holdings in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Vanguard Group Inc. increased its position in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Down 0.3 %

NYSE:FDX opened at $272.12 on Monday. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a fifty day moving average price of $278.83 and a two-hundred day moving average price of $274.84. The stock has a market capitalization of $66.48 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the business earned $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.03%. FedEx’s payout ratio is 34.05%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus decreased their price target on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Bernstein Bank increased their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Citigroup started coverage on shares of FedEx in a research note on Wednesday, October 9th. They set a “buy” rating and a $301.00 price target on the stock. Finally, Loop Capital lowered their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have issued 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 target price of $314.17.

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.