Pinnacle Financial Partners Inc Sells 439 Shares of FedEx Co. (NYSE:FDX)

Pinnacle Financial Partners Inc cut its holdings in shares of FedEx Co. (NYSE:FDX) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,971 shares of the shipping service provider’s stock after selling 439 shares during the period. Pinnacle Financial Partners Inc’s holdings in FedEx were worth $2,182,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FDX. Vanguard Group Inc. grew its holdings in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. Capital International Investors raised its position in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Ameriprise Financial Inc. boosted its position in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after buying an additional 121,240 shares during the period. Finally, Sentry LLC raised its position in shares of FedEx by 0.5% during the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after acquiring an additional 6,657 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $292.08 on Thursday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a market capitalization of $71.36 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.15 and a beta of 1.17. The company has a 50-day simple moving average of $275.05 and a 200 day simple moving average of $275.84. 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 announced its earnings results 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 firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the business posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday. Bernstein Bank boosted their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their target price 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. Stifel Nicolaus reduced their price target on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Raymond James cut their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $316.04.

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.