Courier Capital LLC Has $960,000 Position in FedEx Co. (NYSE:FDX)

Courier Capital LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,508 shares of the shipping service provider’s stock after selling 40 shares during the quarter. Courier Capital LLC’s holdings in FedEx were worth $960,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Central Valley Advisors LLC acquired a new position in shares of FedEx in the second quarter worth $39,000. Abound Wealth Management increased 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 acquiring an additional 95 shares during the last quarter. Sachetta LLC increased 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 acquiring an additional 37 shares during the last quarter. ORG Partners LLC acquired a new position in shares of FedEx in the second quarter worth $50,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of FedEx in the second quarter worth $56,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Down 0.7 %

Shares of FDX opened at $268.02 on Thursday. The company has a 50-day simple moving average of $279.32 and a 200-day simple moving average of $274.85. The firm has a market capitalization of $65.95 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.06 and a beta of 1.17. 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 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $4.55 EPS. On average, equities research analysts expect that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared 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 yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Analysts Set New Price Targets

FDX has been the topic of a number of research reports. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Stephens reiterated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Evercore ISI decreased their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Wells Fargo & Company upped their price objective 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, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.