FedEx Co. (NYSE:FDX) Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its position in shares of FedEx Co. (NYSE:FDX) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,370 shares of the shipping service provider’s stock after selling 200 shares during the quarter. Whittier Trust Co.’s holdings in FedEx were worth $1,196,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Central Valley Advisors LLC acquired a new position in FedEx during the second quarter worth about $39,000. Abound Wealth Management grew its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC raised its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. ORG Partners LLC acquired a new stake in FedEx during the second quarter valued at approximately $50,000. Finally, TruNorth Capital Management LLC bought a new stake in FedEx during the second quarter worth approximately $56,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $269.79 on Wednesday. The firm has a market cap of $66.39 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. The stock’s 50-day moving average is $279.63 and its two-hundred day moving average is $274.90. FedEx Co. has a fifty-two week low of $224.69 and a fifty-two week 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the firm posted $4.55 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FDX shares. Evercore ISI decreased 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. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday. BMO Capital Markets dropped their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. The Goldman Sachs Group reduced their price target on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Finally, Citigroup initiated coverage on shares of FedEx in a research note on Wednesday, October 9th. They set a “buy” rating and a $301.00 target price on the stock. Two 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 presently has an average 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.