Brown Brothers Harriman & Co. Sells 218 Shares of FedEx Co. (NYSE:FDX)

Brown Brothers Harriman & Co. trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 16,345 shares of the shipping service provider’s stock after selling 218 shares during the period. Brown Brothers Harriman & Co.’s holdings in FedEx were worth $4,473,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. DRW Securities LLC bought a new position in FedEx during the third quarter worth about $511,000. Independent Advisor Alliance boosted its stake in FedEx by 2.4% in the 3rd quarter. Independent Advisor Alliance now owns 8,164 shares of the shipping service provider’s stock valued at $2,234,000 after buying an additional 190 shares in the last quarter. Daiwa Securities Group Inc. grew its position in FedEx by 12.1% in the third quarter. Daiwa Securities Group Inc. now owns 28,559 shares of the shipping service provider’s stock valued at $7,816,000 after acquiring an additional 3,072 shares during the period. Marco Investment Management LLC raised its stake in FedEx by 6.1% during the third quarter. Marco Investment Management LLC now owns 866 shares of the shipping service provider’s stock worth $237,000 after acquiring an additional 50 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its holdings in shares of FedEx by 6.7% during the third quarter. Summit Trail Advisors LLC now owns 4,901 shares of the shipping service provider’s stock valued at $1,348,000 after acquiring an additional 307 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FDX. Raymond James dropped their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Susquehanna dropped their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Evercore ISI reduced their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Barclays boosted their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

FDX opened at $304.86 on Tuesday. The company has a fifty day moving average price of $276.59 and a two-hundred day moving average price of $277.98. The firm has a market capitalization of $74.48 billion, a PE ratio of 18.81, a P/E/G ratio of 1.25 and a beta of 1.17. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the firm earned $4.55 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared 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 of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.81%. FedEx’s dividend payout ratio is 34.05%.

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.