Mengis Capital Management Inc. Lowers Stake in FedEx Co. (NYSE:FDX)

Mengis Capital Management Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 1.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,077 shares of the shipping service provider’s stock after selling 99 shares during the period. Mengis Capital Management Inc.’s holdings in FedEx were worth $2,758,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FDX shares. Evercore ISI decreased their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $315.42.

FedEx Trading Down 0.9 %

Shares of NYSE:FDX opened at $287.32 on Wednesday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock’s fifty day moving average price is $275.05 and its 200-day moving average price is $275.84. The company has a market cap of $70.20 billion, a P/E ratio of 17.72, a PEG ratio of 1.16 and a beta of 1.17. 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 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). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.55 EPS. Sell-side analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.92%. FedEx’s dividend payout ratio is currently 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.