FedEx Co. (NYSE:FDX) Stock Position Lowered by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in FedEx Co. (NYSE:FDX) by 19.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 475 shares of the shipping service provider’s stock after selling 118 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in FedEx were worth $130,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Capital International Investors increased its stake in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Vanguard Group Inc. increased its stake in FedEx by 5.6% in 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 buying an additional 1,056,061 shares during the period. Mawer Investment Management Ltd. increased its stake in FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after buying an additional 684,679 shares during the period. International Assets Investment Management LLC increased its stake in FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after buying an additional 647,926 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. BMO Capital Markets dropped their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Stifel Nicolaus dropped their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Robert W. Baird dropped their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Price Performance

Shares of FedEx stock opened at $274.30 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm has a fifty day moving average price of $277.96 and a two-hundred day moving average price of $274.91. The company has a market cap of $67.02 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the company earned $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. Analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is 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.