M&T Bank Corp Sells 1,894 Shares of FedEx Co. (NYSE:FDX)

M&T Bank Corp lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 142,217 shares of the shipping service provider’s stock after selling 1,894 shares during the quarter. M&T Bank Corp’s holdings in FedEx were worth $38,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC raised its position in shares of FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC increased its stake in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC raised its holdings in FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC lifted its stake in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares in the last quarter. Finally, Sachetta LLC boosted its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

NYSE:FDX opened at $279.46 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $68.28 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock’s 50-day simple moving average is $279.93 and its 200 day simple moving average is $280.38.

FedEx (NYSE:FDX) last released 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 company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 earnings per share. On average, analysts anticipate 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 will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.98%. FedEx’s payout ratio is presently 34.05%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FDX shares. Citigroup boosted their price objective on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Robert W. Baird reduced their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, UBS Group lowered their price target on shares of FedEx from $333.00 to $311.00 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, ten have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

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.