FedEx Co. (NYSE:FDX) Holdings Decreased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its position in shares of FedEx Co. (NYSE:FDX) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,368 shares of the shipping service provider’s stock after selling 5,946 shares during the quarter. Janney Montgomery Scott LLC’s holdings in FedEx were worth $20,627,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of FedEx during the 1st quarter valued at about $1,667,000. Allegheny Financial Group LTD acquired a new stake in shares of FedEx during the 1st quarter worth approximately $203,000. Hilltop National Bank bought a new stake in shares of FedEx in the 1st quarter worth approximately $476,000. Csenge Advisory Group boosted its position in FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares during the period. Finally, Czech National Bank grew its stake in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after buying an additional 2,767 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Bernstein Bank upped their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. TD Cowen reduced their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Robert W. Baird lowered their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Performance

FedEx stock opened at $275.45 on Wednesday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm’s 50 day simple moving average is $276.19 and its 200-day simple moving average is $275.22. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market cap of $67.30 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17.

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 firm had revenue of $21.58 billion for 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 company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.55 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. 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 2.00%. FedEx’s payout ratio is presently 34.05%.

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.