Aptus Capital Advisors LLC Sells 39,354 Shares of FedEx Co. (NYSE:FDX)

Aptus Capital Advisors LLC reduced its stake in FedEx Co. (NYSE:FDX) by 93.4% during the third quarter, HoldingsChannel.com reports. The firm owned 2,790 shares of the shipping service provider’s stock after selling 39,354 shares during the quarter. Aptus Capital Advisors LLC’s holdings in FedEx were worth $764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evermay Wealth Management LLC grew its stake in shares of 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 last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the 3rd quarter valued at about $31,000. Central Valley Advisors LLC bought a new stake in FedEx during the 2nd quarter valued at about $39,000. Abound Wealth Management lifted its stake 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 worth $45,000 after buying an additional 95 shares in the last quarter. Finally, Sachetta LLC lifted its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FDX shares. 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 report on Wednesday, September 18th. Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a report on Friday, September 20th. Susquehanna lowered their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Finally, Bernstein Bank lifted 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $316.04.

FedEx Price Performance

NYSE FDX opened at $292.28 on Friday. The stock has a market cap of $71.41 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.15 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company’s 50 day moving average is $275.04 and its two-hundred day moving average is $275.95. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last released 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). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.55 EPS. As a group, research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

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.