Braun Stacey Associates Inc. Sells 30,858 Shares of FedEx Co. (NYSE:FDX)

Braun Stacey Associates Inc. decreased its stake in shares of FedEx Co. (NYSE:FDX) by 67.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,639 shares of the shipping service provider’s stock after selling 30,858 shares during the period. Braun Stacey Associates Inc.’s holdings in FedEx were worth $4,006,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FDX. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in shares of FedEx during the 3rd quarter worth about $31,000. Central Valley Advisors LLC acquired a new stake in FedEx during the second quarter worth about $39,000. Abound Wealth Management raised 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 valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of FedEx during the 3rd quarter worth about $47,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FDX has been the subject of several recent analyst reports. Evercore ISI dropped their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Bernstein Bank lifted their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, BMO Capital Markets cut their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Price Performance

Shares of FDX opened at $294.46 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.23 and a beta of 1.17. The company has a 50 day moving average of $275.40 and a 200-day moving average of $276.48.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business posted $4.55 EPS. As a group, equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s payout ratio is 34.05%.

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.