The Manufacturers Life Insurance Company Sells 1,503 Shares of FedEx Co. (NYSE:FDX)

The Manufacturers Life Insurance Company cut its position in FedEx Co. (NYSE:FDX) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 136,570 shares of the shipping service provider’s stock after selling 1,503 shares during the period. The Manufacturers Life Insurance Company’s holdings in FedEx were worth $37,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC grew its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of FedEx in the third quarter worth $31,000. Central Valley Advisors LLC acquired a new position in FedEx in the second quarter valued at about $39,000. Abound Wealth Management lifted its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Finally, Sachetta LLC grew its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. Bernstein Bank upped their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Raymond James decreased their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Loop Capital dropped their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Finally, TD Cowen decreased their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $316.04.

FedEx Stock Down 0.2 %

Shares of NYSE FDX opened at $302.74 on Friday. The company’s 50 day moving average price is $277.83 and its 200-day moving average price is $278.84. 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 Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a market capitalization of $73.97 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17.

FedEx (NYSE:FDX) last released 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the firm earned $4.55 EPS. FedEx’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx’s payout ratio is currently 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.