Planning Capital Management Corp Has $172,000 Holdings in FedEx Co. (NYSE:FDX)

Planning Capital Management Corp cut its holdings in FedEx Co. (NYSE:FDX) by 40.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 627 shares of the shipping service provider’s stock after selling 431 shares during the quarter. Planning Capital Management Corp’s holdings in FedEx were worth $172,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Evermay Wealth Management LLC raised its position in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the third quarter valued at about $31,000. Central Valley Advisors LLC bought a new position in FedEx in the second quarter valued at about $39,000. Abound Wealth Management raised its position in FedEx by 175.9% in the second 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. Finally, Sachetta LLC raised its position in FedEx by 29.1% in the second 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. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Up 1.7 %

FDX opened at $292.08 on Thursday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The firm has a market capitalization of $71.36 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.15 and a beta of 1.17. The business has a 50 day simple moving average of $275.04 and a two-hundred day simple moving average of $275.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the company posted $4.55 EPS. The firm’s revenue was down .5% on a year-over-year basis. Analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bernstein Bank increased their target price on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Susquehanna lowered their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

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.