Dumont & Blake Investment Advisors LLC Sells 4,460 Shares of FedEx Co. (NYSE:FDX)

Dumont & Blake Investment Advisors LLC lessened its position in shares of FedEx Co. (NYSE:FDX) by 50.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,460 shares of the shipping service provider’s stock after selling 4,460 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in FedEx were worth $1,221,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Central Valley Advisors LLC bought a new position in shares of FedEx in the second quarter valued at $39,000. Abound Wealth Management lifted its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Sachetta LLC boosted its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the last quarter. ORG Partners LLC bought a new stake in FedEx during the second quarter worth $50,000. Finally, TruNorth Capital Management LLC purchased a new stake in FedEx in the 2nd quarter valued at $56,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. Bank of America decreased their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. UBS Group lowered their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, BMO Capital Markets lowered their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Up 0.6 %

Shares of NYSE FDX traded up $1.77 during trading hours on Friday, hitting $274.64. 35,369 shares of the stock were exchanged, compared to its average volume of 1,830,541. The company has a market cap of $67.58 billion, a PE ratio of 15.84, a PEG ratio of 1.06 and a beta of 1.17. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. 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 fifty day moving average price of $279.32 and a 200-day moving average price of $274.85.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $4.55 EPS. On average, sell-side analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

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.