Cabot Wealth Management Inc. Sells 677 Shares of FedEx Co. (NYSE:FDX)

Cabot Wealth Management Inc. lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 56,753 shares of the shipping service provider’s stock after selling 677 shares during the period. FedEx comprises 1.9% of Cabot Wealth Management Inc.’s portfolio, making the stock its 14th largest holding. Cabot Wealth Management Inc.’s holdings in FedEx were worth $15,532,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. Capital International Investors boosted its holdings in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the last quarter. Mawer Investment Management Ltd. boosted its holdings in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after acquiring an additional 121,240 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.6 %

FedEx stock traded down $1.53 during midday trading on Tuesday, reaching $265.92. The stock had a trading volume of 1,354,065 shares, compared to its average volume of 1,855,035. The firm’s fifty day simple moving average is $280.77 and its 200-day simple moving average is $275.24. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The stock has a market capitalization of $65.44 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. 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 posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.55 earnings per share. As a group, analysts expect that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.08%. FedEx’s dividend payout ratio is 32.04%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at approximately $6,189,042.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on FDX shares. Bernstein Bank raised their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. TD Cowen reduced their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. reduced their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Raymond James reduced their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.