Tandem Capital Management Corp ADV Trims Stock Position in FedEx Co. (NYSE:FDX)

Tandem Capital Management Corp ADV decreased its position in shares of FedEx Co. (NYSE:FDX) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,383 shares of the shipping service provider’s stock after selling 259 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in FedEx were worth $1,747,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. First Trust Direct Indexing L.P. boosted its holdings in shares of FedEx by 3.8% in the first quarter. First Trust Direct Indexing L.P. now owns 6,933 shares of the shipping service provider’s stock valued at $2,009,000 after acquiring an additional 254 shares during the period. Northcape Wealth Management LLC boosted its stake in FedEx by 2.5% during the 1st quarter. Northcape Wealth Management LLC now owns 2,827 shares of the shipping service provider’s stock worth $819,000 after purchasing an additional 70 shares during the period. DORCHESTER WEALTH MANAGEMENT Co grew its position in FedEx by 2.4% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 23,612 shares of the shipping service provider’s stock worth $6,841,000 after purchasing an additional 563 shares during the last quarter. Mission Wealth Management LP increased its stake in FedEx by 13.3% in the first quarter. Mission Wealth Management LP now owns 4,278 shares of the shipping service provider’s stock valued at $1,240,000 after purchasing an additional 501 shares during the period. Finally, Centric Wealth Management purchased a new stake in shares of FedEx in the first quarter valued at about $367,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FDX. Evercore ISI dropped their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. The Goldman Sachs Group dropped their target price on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Susquehanna decreased their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Robert W. Baird dropped their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Price Performance

Shares of NYSE FDX opened at $274.30 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a market cap of $67.02 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.08 and a beta of 1.17. The company’s 50-day moving average price is $277.96 and its 200 day moving average price is $274.91. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the business earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is currently 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.