Pitcairn Co. Has $1.43 Million Stake in FedEx Co. (NYSE:FDX)

Pitcairn Co. decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,239 shares of the shipping service provider’s stock after selling 521 shares during the quarter. Pitcairn Co.’s holdings in FedEx were worth $1,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. KKM Financial LLC raised its stake in FedEx by 6.4% during the third quarter. KKM Financial LLC now owns 9,228 shares of the shipping service provider’s stock worth $2,526,000 after acquiring an additional 559 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in FedEx by 9.4% during the third quarter. Kingsview Wealth Management LLC now owns 3,014 shares of the shipping service provider’s stock worth $825,000 after acquiring an additional 259 shares in the last quarter. Cerity Partners LLC raised its stake in FedEx by 39.0% during the third quarter. Cerity Partners LLC now owns 60,345 shares of the shipping service provider’s stock worth $16,538,000 after acquiring an additional 16,931 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of FedEx by 0.5% during the third quarter. Great Valley Advisor Group Inc. now owns 25,325 shares of the shipping service provider’s stock worth $6,931,000 after purchasing an additional 120 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its holdings in shares of FedEx by 122.4% during the third quarter. Nicolet Advisory Services LLC now owns 1,668 shares of the shipping service provider’s stock worth $437,000 after purchasing an additional 918 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FDX shares. JPMorgan Chase & Co. reduced their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Bernstein Bank boosted their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird reduced their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. 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 company’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Price Performance

Shares of NYSE:FDX opened at $299.97 on Friday. 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’s 50 day moving average is $276.34 and its 200-day moving average is $277.54. The firm has a market capitalization of $73.29 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last issued 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 firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.55 earnings per share. Sell-side 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. Investors 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 yield of 1.84%. The ex-dividend date is Monday, December 9th. FedEx’s 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.