WASHINGTON TRUST Co Sells 542 Shares of FedEx Co. (NYSE:FDX)

WASHINGTON TRUST Co lowered its stake in shares of FedEx Co. (NYSE:FDX) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,678 shares of the shipping service provider’s stock after selling 542 shares during the quarter. WASHINGTON TRUST Co’s holdings in FedEx were worth $8,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FDX. Capital International Investors grew its stake in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Vanguard Group Inc. lifted its position in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Mawer Investment Management Ltd. boosted its stake in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares in the last quarter. International Assets Investment Management LLC grew its holdings in FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings 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 last quarter. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of recent research reports. Citigroup initiated coverage on FedEx in a research note on Wednesday, October 9th. They set a “buy” rating and a $301.00 price objective for the company. Raymond James cut their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Loop Capital decreased their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Two 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 an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

NYSE:FDX traded up $1.75 during trading hours on Wednesday, reaching $276.79. The stock had a trading volume of 309,258 shares, compared to its average volume of 1,821,013. The stock has a market capitalization of $67.63 billion, a PE ratio of 16.97, a PEG ratio of 1.08 and a beta of 1.17. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a 50 day moving average price of $278.30 and a two-hundred day moving average price of $274.91. 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 released its quarterly earnings results 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the company earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.99%. 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.