Worldquant Millennium Advisors LLC Sells 243,918 Shares of FedEx Co. (NYSE:FDX)

Worldquant Millennium Advisors LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 67.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 115,341 shares of the shipping service provider’s stock after selling 243,918 shares during the period. Worldquant Millennium Advisors LLC’s holdings in FedEx were worth $31,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Evermay Wealth Management LLC grew its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth about $31,000. Abound Wealth Management grew its holdings 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 worth $45,000 after purchasing an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of FedEx in the 3rd quarter worth about $47,000. Finally, Sachetta LLC grew its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.4 %

Shares of FedEx stock opened at $280.52 on Friday. The business has a fifty day simple moving average of $279.55 and a two-hundred day simple moving average of $279.60. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a market capitalization of $68.54 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.18 and a beta of 1.18. 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 (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FDX. StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating 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 target on the stock. in a research report on Friday, September 20th. Stephens reiterated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. Finally, UBS Group cut their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $316.68.

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.