First Interstate Bank Lowers Stake in FedEx Co. (NYSE:FDX)

First Interstate Bank lessened its stake in FedEx Co. (NYSE:FDX) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,564 shares of the shipping service provider’s stock after selling 262 shares during the period. First Interstate Bank’s holdings in FedEx were worth $1,796,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors boosted its holdings in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Vanguard Group Inc. raised 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 valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after buying an additional 684,679 shares during the period. International Assets Investment Management LLC grew its position in shares of 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 buying an additional 647,926 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of FedEx by 34.6% during 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 buying an additional 578,350 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX traded up $0.50 on Friday, hitting $274.35. 1,370,415 shares of the company’s stock traded hands, compared to its average volume of 1,819,672. The firm’s 50-day moving average price is $277.10 and its two-hundred day moving average price is $274.96. The firm has a market capitalization of $67.03 billion, a PE ratio of 16.92, a P/E/G ratio of 1.10 and a beta of 1.17. 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 Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last posted 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 analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 earnings per share. As a group, analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets lowered their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Evercore ISI cut their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Finally, The Goldman Sachs Group cut their price target on FedEx from $333.00 to $332.00 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.17.

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.