FedEx Co. (NYSE:FDX) Shares Sold by West Michigan Advisors LLC

West Michigan Advisors LLC reduced its position in FedEx Co. (NYSE:FDX) by 18.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 965 shares of the shipping service provider’s stock after selling 213 shares during the quarter. West Michigan Advisors LLC’s holdings in FedEx were worth $266,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC increased its stake in shares of FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the period. LRI Investments LLC raised its stake in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after buying an additional 36 shares in the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC boosted its stake in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares in the last quarter. Finally, Sachetta LLC grew its holdings in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.3 %

Shares of FDX opened at $272.12 on Friday. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The company has a market capitalization of $66.96 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. The stock has a fifty day moving average of $279.10 and a two-hundred day moving average of $274.84. 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 released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the company posted $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts forecast that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. FedEx’s dividend payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FDX shares. TD Cowen reduced their target price on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Susquehanna reduced their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird reduced their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $314.17.

About FedEx

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.