Hancock Whitney Corp Sells 92 Shares of FedEx Co. (NYSE:FDX)

Hancock Whitney Corp lowered its position in shares of FedEx Co. (NYSE:FDX) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,038 shares of the shipping service provider’s stock after selling 92 shares during the period. Hancock Whitney Corp’s holdings in FedEx were worth $13,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC bought a new position in shares of FedEx in the third quarter worth $564,000. DRW Securities LLC purchased a new position in FedEx during the third quarter worth about $511,000. Independent Advisor Alliance increased its stake in FedEx by 2.4% in the 3rd quarter. Independent Advisor Alliance now owns 8,164 shares of the shipping service provider’s stock worth $2,234,000 after acquiring an additional 190 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of FedEx by 12.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 28,559 shares of the shipping service provider’s stock valued at $7,816,000 after acquiring an additional 3,072 shares in the last quarter. Finally, Marco Investment Management LLC boosted its position in shares of FedEx by 6.1% during the 3rd quarter. Marco Investment Management LLC now owns 866 shares of the shipping service provider’s stock valued at $237,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on FDX shares. Evercore ISI lowered their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Stifel Nicolaus reduced their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Finally, Raymond James reduced their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Price Performance

FDX opened at $299.97 on Monday. The stock’s 50 day moving average price is $276.34 and its 200-day moving average price is $277.68. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The stock has a market capitalization of $73.29 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.55 earnings per share. On average, equities research analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.84%. 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.