Bar Harbor Wealth Management Sells 182 Shares of FedEx Co. (NYSE:FDX)

Bar Harbor Wealth Management cut its holdings in FedEx Co. (NYSE:FDX) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,392 shares of the shipping service provider’s stock after selling 182 shares during the period. Bar Harbor Wealth Management’s holdings in FedEx were worth $4,212,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FDX. Central Valley Advisors LLC acquired a new stake in FedEx during the second quarter worth about $39,000. Abound Wealth Management boosted its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Sachetta LLC boosted its stake in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of FedEx in the 2nd quarter valued at approximately $50,000. Finally, OFI Invest Asset Management boosted its stake in shares of FedEx by 91.8% in the 1st quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock valued at $50,000 after purchasing an additional 89 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

FDX opened at $274.33 on Friday. The firm has a market cap of $67.51 billion, a P/E ratio of 15.92, a PEG ratio of 1.06 and a beta of 1.17. The firm has a 50-day moving average of $280.16 and a 200 day moving average of $275.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business 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%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.55 earnings per share. On average, research analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FDX. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Stifel Nicolaus lowered their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Argus raised their price target on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company raised their price target on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Finally, Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

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.