Meitav Investment House Ltd. Reduces Position in FedEx Co. (NYSE:FDX)

Meitav Investment House Ltd. reduced its position in shares of FedEx Co. (NYSE:FDX) by 4.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,634 shares of the shipping service provider’s stock after selling 284 shares during the period. Meitav Investment House Ltd.’s holdings in FedEx were worth $1,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evermay Wealth Management LLC boosted its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of FedEx during the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management grew its position in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Finally, Sachetta LLC raised its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 0.6 %

NYSE:FDX opened at $275.76 on Thursday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a fifty day moving average price of $277.96 and a two-hundred day moving average price of $274.91. The stock has a market capitalization of $67.37 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last announced 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). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.55 EPS. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FDX. Stephens restated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. UBS Group decreased their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. The Goldman Sachs Group decreased their price objective on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Finally, Evercore ISI cut their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

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.