Hartford Investment Management Co. Sells 309 Shares of FedEx Co. (NYSE:FDX)

Hartford Investment Management Co. trimmed its position in shares of FedEx Co. (NYSE:FDX) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,185 shares of the shipping service provider’s stock after selling 309 shares during the period. Hartford Investment Management Co.’s holdings in FedEx were worth $3,882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares during the last quarter. Capital International Investors grew its stake in shares of FedEx by 32.5% in the first 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. Mawer Investment Management Ltd. increased its position in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares during the period. Ameriprise Financial Inc. raised its stake in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 121,240 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on FDX. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. cut their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Evercore ISI decreased their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Citigroup started coverage on FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 target price for the company. Finally, Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

FedEx stock opened at $268.02 on Thursday. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The firm has a market cap of $65.95 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.06 and a beta of 1.17. 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 business’s fifty day moving average is $279.32 and its two-hundred day moving average is $274.85.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the company earned $4.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

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.