Gladstone Institutional Advisory LLC Sells 71 Shares of FedEx Co. (NYSE:FDX)

Gladstone Institutional Advisory LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,427 shares of the shipping service provider’s stock after selling 71 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in FedEx were worth $938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% during 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 during the period. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the 3rd quarter valued at $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the 2nd quarter worth $39,000. Abound Wealth Management increased its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Sachetta LLC raised its stake in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

NYSE:FDX opened at $274.35 on Friday. The company has a market capitalization of $67.03 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.10 and a beta of 1.17. The business has a 50 day moving average of $277.10 and a 200 day moving average of $275.03. 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 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 business 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%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $4.55 EPS. On average, sell-side analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Robert W. Baird cut their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a report on Friday, September 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $215.00 to $200.00 in a report on Friday, September 20th. Bank of America dropped their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Raymond James decreased their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two investment 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’s stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx 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.