Intech Investment Management LLC Sells 50,454 Shares of FedEx Co. (NYSE:FDX)

Intech Investment Management LLC reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 34.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 95,344 shares of the shipping service provider’s stock after selling 50,454 shares during the quarter. Intech Investment Management LLC’s holdings in FedEx were worth $26,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cornerstone Advisors LLC boosted its stake in shares of FedEx by 2.8% during the 3rd quarter. Cornerstone Advisors LLC now owns 7,400 shares of the shipping service provider’s stock worth $2,025,000 after acquiring an additional 200 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after acquiring an additional 38 shares during the period. Payden & Rygel boosted its stake in shares of FedEx by 12.1% during the 3rd quarter. Payden & Rygel now owns 6,500 shares of the shipping service provider’s stock worth $1,779,000 after acquiring an additional 700 shares during the period. EagleClaw Capital Managment LLC boosted its stake in FedEx by 0.6% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 18,823 shares of the shipping service provider’s stock valued at $5,151,000 after purchasing an additional 120 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in FedEx by 1.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,935 shares of the shipping service provider’s stock valued at $1,077,000 after purchasing an additional 52 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FDX shares. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Bank of America reduced their price target on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research note on Friday, September 20th. TD Cowen dropped their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, Stifel Nicolaus dropped their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Trading Down 1.7 %

NYSE FDX opened at $288.03 on Thursday. The company has a market capitalization of $70.37 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.22 and a beta of 1.17. The stock’s 50-day simple moving average is $275.89 and its two-hundred day simple moving average is $277.02. 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.

FedEx (NYSE:FDX) last posted 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). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. 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 business earned $4.55 earnings per share. Research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business 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. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.92%. FedEx’s dividend payout ratio is currently 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.