Vestor Capital LLC Sells 41 Shares of FedEx Co. (NYSE:FDX)

Vestor Capital LLC lessened its stake in FedEx Co. (NYSE:FDX) by 19.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170 shares of the shipping service provider’s stock after selling 41 shares during the quarter. Vestor Capital LLC’s holdings in FedEx were worth $47,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also 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 valued at $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new position in FedEx in the third quarter valued at approximately $31,000. Central Valley Advisors LLC bought a new position in FedEx during the second quarter valued at $39,000. Abound Wealth Management raised its stake in 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 acquiring an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in FedEx in the 3rd quarter worth approximately $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Down 1.2 %

NYSE:FDX opened at $271.18 on Tuesday. The company has a market capitalization of $66.25 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.10 and a beta of 1.17. The stock’s 50 day moving average price is $276.58 and its 200 day moving average price is $275.17. FedEx Co. has a 52 week low of $234.45 and a 52 week 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.

FedEx (NYSE:FDX) last issued its quarterly 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 business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the business posted $4.55 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.04%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Analyst Ratings Changes

Several analysts have weighed in on FDX shares. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. Robert W. Baird decreased their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Loop Capital dropped their price target on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Stifel Nicolaus decreased 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target 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.