Eagle Asset Management Inc. Sells 31,695 Shares of FedEx Co. (NYSE:FDX)

Eagle Asset Management Inc. lessened its stake in FedEx Co. (NYSE:FDX) by 13.7% in the third quarter, HoldingsChannel reports. The fund owned 199,554 shares of the shipping service provider’s stock after selling 31,695 shares during the period. Eagle Asset Management Inc.’s holdings in FedEx were worth $57,128,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FDX. Ameriprise Financial Inc. boosted its stake in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares during the period. Dimensional Fund Advisors LP raised its holdings in FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after buying an additional 121,240 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares during the period. Sentry LLC grew its holdings in FedEx by 0.5% in the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after acquiring an additional 6,657 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of FedEx by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,056,561 shares of the shipping service provider’s stock valued at $306,129,000 after acquiring an additional 82,201 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

NYSE FDX opened at $295.34 on Friday. The business’s 50-day moving average price is $276.07 and its 200 day moving average price is $277.14. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market cap of $72.16 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.22 and a beta of 1.17. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the firm posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FDX shares. UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Robert W. Baird dropped their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Loop Capital reduced their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Bank of America reduced their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $316.04.

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.