Hartford Investment Management Co. Sells 309 Shares of FedEx Co. (NYSE:FDX)

Hartford Investment Management Co. lessened its position in FedEx Co. (NYSE:FDX) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,185 shares of the shipping service provider’s stock after selling 309 shares during the period. Hartford Investment Management Co.’s holdings in FedEx were worth $3,882,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Capital International Investors increased its holdings in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. grew its position in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Mawer Investment Management Ltd. increased its stake in FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the period. Finally, Empyrean Capital Partners LP bought a new position in FedEx in the second quarter valued at approximately $46,475,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FDX shares. UBS Group dropped their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday. Bank of America decreased their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Robert W. Baird cut their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Evercore ISI reduced their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Price Performance

NYSE:FDX opened at $268.02 on Thursday. The company has a market cap of $65.95 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.06 and a beta of 1.17. The firm’s fifty day moving average price is $279.32 and its two-hundred day moving average price is $274.85. FedEx Co. has a one year low of $224.69 and a one 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 issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $4.55 earnings per share. Equities analysts expect that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

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.