MAI Capital Management Sells 1,294 Shares of FedEx Co. (NYSE:FDX)

MAI Capital Management lowered its stake in shares of FedEx Co. (NYSE:FDX) by 8.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,435 shares of the shipping service provider’s stock after selling 1,294 shares during the quarter. MAI Capital Management’s holdings in FedEx were worth $3,677,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Capital International Investors boosted its stake in 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 acquiring an additional 2,163,622 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after buying an additional 121,240 shares during the period. Sentry LLC increased its position in shares of FedEx by 0.5% in the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock valued at $365,626,000 after buying an additional 6,657 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of FedEx by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,056,561 shares of the shipping service provider’s stock valued at $306,129,000 after buying an additional 82,201 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Robert W. Baird decreased their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Stifel Nicolaus decreased their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Down 0.7 %

FedEx stock opened at $293.02 on Wednesday. The company’s 50-day moving average price is $275.82 and its two-hundred day moving average price is $276.94. 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 has a market cap of $71.59 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.23 and a beta of 1.17. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $4.55 EPS. As a group, analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.88%. FedEx’s payout ratio is presently 34.05%.

FedEx 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.