PSI Advisors LLC Sells 557 Shares of FedEx Co. (NYSE:FDX)

PSI Advisors LLC decreased its holdings in FedEx Co. (NYSE:FDX) by 39.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 851 shares of the shipping service provider’s stock after selling 557 shares during the period. PSI Advisors LLC’s holdings in FedEx were worth $233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FDX. Central Valley Advisors LLC bought a new position in shares of FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management increased 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 during the last quarter. Sachetta LLC increased 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 during the last quarter. ORG Partners LLC bought a new position in shares of FedEx in the 2nd quarter valued at $50,000. Finally, TruNorth Capital Management LLC bought a new position in shares of FedEx in the 2nd quarter valued at $56,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Bernstein Bank raised their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Monday. Finally, Susquehanna cut their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Performance

FDX stock opened at $274.95 on Thursday. The stock has a 50-day moving average price of $279.32 and a 200-day moving average price of $274.85. FedEx Co. has a 1-year low of $224.69 and a 1-year 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. The firm has a market cap of $67.66 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the business posted $4.55 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts expect that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is 32.04%.

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.