FedEx Co. (NYSE:FDX) Position Reduced by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV reduced its position in FedEx Co. (NYSE:FDX) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,850 shares of the shipping service provider’s stock after selling 295 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in FedEx were worth $506,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Czech National Bank raised 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 valued at $12,564,000 after purchasing an additional 2,767 shares during the period. Magnolia Capital Advisors LLC acquired a new position in FedEx during the second quarter valued at $9,226,000. Raymond James & Associates lifted its stake in FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after acquiring an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in FedEx during the 2nd quarter worth about $22,052,000. Finally, Versor Investments LP purchased a new position in FedEx during the 3rd quarter valued at about $2,096,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FDX shares. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Cowen decreased their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. Bernstein Bank increased their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Price Performance

Shares of FedEx stock opened at $292.08 on Thursday. The firm has a market cap of $71.36 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.15 and a beta of 1.17. The firm’s 50-day simple moving average is $275.05 and its 200-day simple moving average is $275.84. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the company posted $4.55 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 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.