FedEx Co. (NYSE:FDX) Position Lessened by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. decreased its stake in FedEx Co. (NYSE:FDX) by 4.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,592 shares of the shipping service provider’s stock after selling 109 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in FedEx were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in FDX. Evermay Wealth Management LLC lifted its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter worth approximately $39,000. Abound Wealth Management increased its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in FedEx in the 3rd quarter valued at approximately $47,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FDX traded up $3.07 on Friday, hitting $286.28. 1,734,576 shares of the stock traded hands, compared to its average volume of 1,267,146. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. 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 firm has a market capitalization of $69.94 billion, a PE ratio of 17.66, a P/E/G ratio of 1.13 and a beta of 1.17. The business has a fifty day moving average price of $275.36 and a two-hundred day moving average price of $275.43.

FedEx (NYSE:FDX) last issued its quarterly 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. The company’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s dividend payout ratio is 34.05%.

Wall Street Analyst Weigh In

FDX has been the topic of several analyst reports. Loop Capital lowered their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. lowered their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Susquehanna lowered their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Finally, BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.