FedEx Co. (NYSE:FDX) Shares Sold by Commerce Bank

Commerce Bank trimmed its position in FedEx Co. (NYSE:FDX) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,398 shares of the shipping service provider’s stock after selling 357 shares during the quarter. Commerce Bank’s holdings in FedEx were worth $5,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC increased its position 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 buying an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new stake in FedEx in the third quarter worth approximately $31,000. Central Valley Advisors LLC bought a new stake in FedEx in the second quarter worth about $39,000. Abound Wealth Management lifted its stake in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of FedEx during the 3rd quarter worth $47,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on FDX shares. Raymond James cut their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Barclays upped their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Robert W. Baird cut their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Up 2.5 %

Shares of NYSE:FDX opened at $295.34 on Friday. 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 $72.16 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.22 and a beta of 1.17. The business has a fifty day moving average price of $276.07 and a two-hundred day moving average price of $277.14. 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). The firm had revenue of $21.58 billion for 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%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $4.55 EPS. 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. Investors of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

FedEx 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.