Creative Financial Designs Inc. ADV Sells 559 Shares of FedEx Co. (NYSE:FDX)

Creative Financial Designs Inc. ADV reduced its position in FedEx Co. (NYSE:FDX) by 47.9% in the third quarter, Holdings Channel.com reports. The fund owned 607 shares of the shipping service provider’s stock after selling 559 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in FedEx were worth $166,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in FedEx in the 1st quarter valued at $1,667,000. Allegheny Financial Group LTD purchased a new position in FedEx during the first quarter worth about $203,000. Hilltop National Bank bought a new position in FedEx in the 1st quarter worth about $476,000. Csenge Advisory Group raised its holdings in shares of FedEx by 14.9% in the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after acquiring an additional 298 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after acquiring an additional 2,767 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.2 %

NYSE FDX opened at $274.35 on Monday. The stock has a market cap of $67.03 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a 50 day simple moving average of $277.10 and a two-hundred day simple moving average of $275.11. 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 released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the firm earned $4.55 EPS. The business’s revenue was down .5% on a year-over-year basis. On average, analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group decreased their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bank of America lowered their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. TD Cowen cut their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Citigroup initiated coverage on FedEx in a research report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price target on the stock. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Two 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 stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

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.