First National Trust Co Has $7 Million Stake in FedEx Co. (NYSE:FDX)

First National Trust Co trimmed its stake in FedEx Co. (NYSE:FDX) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 25,592 shares of the shipping service provider’s stock after selling 753 shares during the period. First National Trust Co’s holdings in FedEx were worth $7,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital International Investors increased 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 valued at $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in shares of FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after buying an additional 161,022 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 1.2 %

Shares of NYSE:FDX opened at $289.79 on Tuesday. The firm has a market capitalization of $70.80 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.15 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a 50 day moving average price of $275.36 and a 200-day moving average price of $275.52. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 firm 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 revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $4.55 EPS. As a group, equities research analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.90%. FedEx’s payout ratio is 34.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Susquehanna cut their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Stifel Nicolaus reduced their target price on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. TD Cowen cut their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

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.