Ascent Group LLC Has $1.64 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Ascent Group LLC reduced its stake in shares of FedEx Co. (NYSE:FDX) by 43.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,988 shares of the shipping service provider’s stock after selling 4,677 shares during the period. Ascent Group LLC’s holdings in FedEx were worth $1,639,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Kingswood Wealth Advisors LLC raised its position in shares of FedEx by 43.9% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,035 shares of the shipping service provider’s stock valued at $910,000 after buying an additional 926 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in FedEx during the second quarter valued at approximately $242,000. CWM LLC lifted its stake in FedEx by 8.5% during the second quarter. CWM LLC now owns 7,571 shares of the shipping service provider’s stock worth $2,270,000 after purchasing an additional 593 shares during the last quarter. Five Oceans Advisors acquired a new stake in shares of FedEx in the 2nd quarter valued at $205,000. Finally, Cullinan Associates Inc. boosted its holdings in shares of FedEx by 13.3% in the 2nd quarter. Cullinan Associates Inc. now owns 850 shares of the shipping service provider’s stock valued at $255,000 after purchasing an additional 100 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on FDX. Loop Capital dropped their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $215.00 to $200.00 in a report on Friday, September 20th. Evercore ISI dropped their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, BMO Capital Markets cut their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Trading Down 1.9 %

FDX opened at $296.78 on Tuesday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a fifty day moving average of $277.83 and a 200-day moving average of $279.12. The stock has a market cap of $72.51 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly 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 business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.55 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 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.