FedEx Co. (NYSE:FDX) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors reduced its stake in shares of FedEx Co. (NYSE:FDX) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,715 shares of the shipping service provider’s stock after selling 976 shares during the quarter. Tower Bridge Advisors’ holdings in FedEx were worth $5,943,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accent Capital Management LLC grew its holdings in shares of FedEx by 608.9% during the third quarter. Accent Capital Management LLC now owns 8,152 shares of the shipping service provider’s stock worth $2,242,000 after purchasing an additional 7,002 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its position in shares of FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 39 shares during the period. Natixis Advisors LLC grew its stake in FedEx by 4.8% during the 3rd quarter. Natixis Advisors LLC now owns 157,002 shares of the shipping service provider’s stock worth $42,968,000 after buying an additional 7,238 shares during the last quarter. Mizuho Securities USA LLC increased its position in FedEx by 102.7% during the third quarter. Mizuho Securities USA LLC now owns 35,377 shares of the shipping service provider’s stock worth $9,682,000 after buying an additional 17,924 shares during the period. Finally, Vishria Bird Financial Group LLC lifted its stake in FedEx by 18.5% in the third quarter. Vishria Bird Financial Group LLC now owns 95,139 shares of the shipping service provider’s stock valued at $26,038,000 after buying an additional 14,879 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Cowen lowered their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bank of America dropped their price objective 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. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Susquehanna dropped their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Finally, Barclays increased their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Performance

Shares of FDX opened at $294.46 on Friday. The company has a 50-day moving average of $275.40 and a two-hundred day moving average of $276.37. The stock has a market cap of $71.94 billion, a P/E ratio of 18.17, a PEG ratio of 1.23 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 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 issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company 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 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, research analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

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.