Equitable Trust Co. Raises Stock Holdings in FedEx Co. (NYSE:FDX)

Equitable Trust Co. grew its position in FedEx Co. (NYSE:FDX) by 13.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,706 shares of the shipping service provider’s stock after acquiring an additional 891 shares during the quarter. Equitable Trust Co.’s holdings in FedEx were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in FedEx in the third quarter valued at $31,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx in the second quarter valued at about $39,000. Abound Wealth Management boosted its stake in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the period. Finally, Sachetta LLC grew its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on FDX. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Raymond James decreased their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a 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. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, 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 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 assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Up 1.1 %

Shares of NYSE FDX opened at $286.28 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The firm’s 50-day moving average is $275.36 and its two-hundred day moving average is $275.43. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a market capitalization of $69.94 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the company posted $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 EPS for the current fiscal 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 paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is 34.05%.

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.