Independent Solutions Wealth Management LLC Trims Stock Position in FedEx Co. (NYSE:FDX)

Independent Solutions Wealth Management LLC trimmed its stake in FedEx Co. (NYSE:FDX) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,026 shares of the shipping service provider’s stock after selling 100 shares during the period. Independent Solutions Wealth Management LLC’s holdings in FedEx were worth $281,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in the third 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 in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of FedEx in the 3rd quarter worth about $31,000. Abound Wealth Management increased its stake 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 acquiring an additional 95 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in FedEx during the 3rd quarter valued at about $47,000. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FDX. JPMorgan Chase & Co. lifted their target price on shares of FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group lowered their price objective on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Robert W. Baird lowered their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Susquehanna cut their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” 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 given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $316.68.

FedEx Stock Up 1.0 %

FDX stock opened at $275.88 on Friday. The company has a market cap of $67.40 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The business’s 50-day moving average is $282.48 and its two-hundred day moving average is $281.66. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.99 earnings per share. As a group, analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is 34.05%.

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.