Clarkston Capital Partners LLC Has $95.24 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Clarkston Capital Partners LLC lowered its position in FedEx Co. (NYSE:FDX) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 348,008 shares of the shipping service provider’s stock after selling 4,827 shares during the quarter. FedEx accounts for 1.8% of Clarkston Capital Partners LLC’s holdings, making the stock its 20th largest position. Clarkston Capital Partners LLC’s holdings in FedEx were worth $95,243,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Evermay Wealth Management LLC lifted its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of FedEx in the third quarter worth approximately $31,000. Central Valley Advisors LLC bought a new stake in FedEx in the second quarter valued at approximately $39,000. Abound Wealth Management boosted its holdings in FedEx by 175.9% in the second 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 last quarter. Finally, Sachetta LLC increased its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $294.46 on Monday. The company has a market capitalization of $71.94 billion, a PE ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average price is $275.40 and its 200-day moving average price is $276.48. FedEx Co. has a twelve month low of $234.45 and a twelve month 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). The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.55 EPS. On average, equities analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FDX. Bank of America reduced their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Evercore ISI cut their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group lowered their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Finally, Susquehanna lowered their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.