Foster & Motley Inc. Sells 297 Shares of FedEx Co. (NYSE:FDX)

Foster & Motley Inc. reduced its position in FedEx Co. (NYSE:FDX) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,635 shares of the shipping service provider’s stock after selling 297 shares during the quarter. Foster & Motley Inc.’s holdings in FedEx were worth $721,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Capital International Investors boosted its position in FedEx by 32.5% during 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 acquiring an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. boosted its position in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. International Assets Investment Management LLC grew its stake 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 valued at $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Finally, Ceredex Value Advisors LLC lifted its position in shares of FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after buying an additional 161,022 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Up 1.2 %

FDX stock opened at $283.30 on Friday. The firm’s fifty day moving average is $275.86 and its 200 day moving average is $275.26. The firm has a market cap of $69.22 billion, a PE ratio of 17.48, a P/E/G ratio of 1.09 and a beta of 1.17. FedEx Co. has a one year low of $234.45 and a one 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.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $4.55 EPS. On average, research analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.95%. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Ratings Changes

Several research firms recently commented on FDX. Bernstein Bank boosted their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. The Goldman Sachs Group reduced their price target on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. TD Cowen dropped their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Friday, September 20th. Finally, Bank of America decreased their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

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.