FedEx Co. (NYSE:FDX) Position Lessened by Armor Investment Advisors LLC

Armor Investment Advisors LLC lowered its position in FedEx Co. (NYSE:FDX) by 72.4% during the third quarter, HoldingsChannel.com reports. The firm owned 1,584 shares of the shipping service provider’s stock after selling 4,165 shares during the quarter. Armor Investment Advisors LLC’s holdings in FedEx were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the 3rd quarter worth $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth $39,000. Abound Wealth Management raised its holdings in shares of FedEx by 175.9% during 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. Finally, Harbor Capital Advisors Inc. bought a new stake in FedEx in the third quarter worth $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 1.4 %

FDX stock opened at $279.32 on Wednesday. FedEx Co. has a 1-year low of $234.45 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 business’s 50 day moving average is $276.19 and its 200-day moving average is $275.22. The firm has a market cap of $68.24 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.10 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the firm earned $4.55 EPS. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.98%. FedEx’s dividend payout ratio is 34.05%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FDX. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Bank of America reduced their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. BMO Capital Markets dropped their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.17.

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.