FedEx Co. (NYSE:FDX) Shares Sold by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 4.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 995 shares of the shipping service provider’s stock after selling 47 shares during the period. Stockman Wealth Management Inc.’s holdings in FedEx were worth $272,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC grew its position in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in FedEx in the third quarter valued at about $31,000. Central Valley Advisors LLC purchased a new position in FedEx during the second quarter worth about $39,000. Abound Wealth Management raised its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of FedEx during the 3rd quarter worth approximately $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

FDX stock traded up $3.07 during trading on Friday, hitting $286.28. The company had a trading volume of 1,734,576 shares, compared to its average volume of 1,267,146. The firm has a 50-day moving average price of $275.36 and a 200-day moving average price of $275.45. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market cap of $69.94 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.17. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly 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 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 analysts’ expectations of $21.87 billion. During the same quarter last year, the company earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid 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 dividend yield of 1.93%. FedEx’s dividend payout ratio (DPR) is 34.05%.

Analyst Ratings Changes

Several research firms have recently commented on FDX. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Friday, September 20th. UBS Group lowered their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Susquehanna cut their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Finally, Stifel Nicolaus cut their price target on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, FedEx currently has a consensus 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.