Prime Capital Investment Advisors LLC Sells 58 Shares of FedEx Co. (NYSE:FDX)

Prime Capital Investment Advisors LLC cut its position in shares of FedEx Co. (NYSE:FDX) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,541 shares of the shipping service provider’s stock after selling 58 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in FedEx were worth $2,064,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FDX. Capital International Investors grew its position in FedEx by 32.5% during 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 acquiring an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. grew its position 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. International Assets Investment Management LLC grew its position in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. grew its position in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after acquiring an additional 161,022 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FDX shares. Stephens reiterated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Loop Capital dropped their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Susquehanna dropped their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. UBS Group dropped their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Two investment 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. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Up 1.7 %

Shares of NYSE:FDX opened at $292.08 on Thursday. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The stock has a fifty day simple moving average of $275.05 and a two-hundred day simple moving average of $275.84. 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 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.

FedEx (NYSE:FDX) last released its quarterly earnings data 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). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.55 earnings per share. On average, research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.89%. FedEx’s dividend payout ratio (DPR) is 34.05%.

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.