Fisher Asset Management LLC Lowers Holdings in FedEx Co. (NYSE:FDX)

Fisher Asset Management LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 18.7% during the third quarter, Holdings Channel.com reports. The firm owned 953 shares of the shipping service provider’s stock after selling 219 shares during the period. Fisher Asset Management LLC’s holdings in FedEx were worth $261,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in FedEx by 45.5% during the second quarter. GAMMA Investing LLC now owns 1,897 shares of the shipping service provider’s stock worth $569,000 after buying an additional 593 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in FedEx in the second quarter valued at approximately $197,000. Douglas Lane & Associates LLC lifted its stake in FedEx by 2.8% during the second quarter. Douglas Lane & Associates LLC now owns 8,910 shares of the shipping service provider’s stock worth $2,672,000 after purchasing an additional 245 shares in the last quarter. Mather Group LLC. grew its stake in shares of FedEx by 9.7% in the second quarter. Mather Group LLC. now owns 6,263 shares of the shipping service provider’s stock valued at $1,815,000 after buying an additional 554 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of FedEx by 3.9% in the second quarter. Trust Co. of Vermont now owns 2,806 shares of the shipping service provider’s stock valued at $841,000 after buying an additional 105 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. TD Cowen lowered their target price on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Loop Capital lowered their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Bernstein Bank increased their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Barclays boosted their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Evercore ISI reduced their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

Shares of FDX opened at $302.67 on Monday. The firm has a fifty day moving average price of $277.83 and a 200 day moving average price of $279.12. The stock has a market cap of $73.95 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. 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 posted its 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). The firm had revenue of $21.58 billion during 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 revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.55 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s 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.