Mathes Company Inc. Reduces Stock Position in FedEx Co. (NYSE:FDX)

Mathes Company Inc. lessened its holdings in FedEx Co. (NYSE:FDX) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,520 shares of the shipping service provider’s stock after selling 600 shares during the period. FedEx comprises approximately 1.2% of Mathes Company Inc.’s holdings, making the stock its 29th biggest position. Mathes Company Inc.’s holdings in FedEx were worth $3,426,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Capital International Investors raised its stake in FedEx by 32.5% during the 1st 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 during the period. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 1,056,061 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of 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 purchasing an additional 684,679 shares in the last quarter. International Assets Investment Management LLC boosted its stake in FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in FedEx by 34.6% during the second 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. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FDX shares. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Citigroup assumed coverage on FedEx in a research report on Wednesday, October 9th. They set a “buy” rating and a $301.00 target price for the company. Bernstein Bank lifted their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. 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. Finally, Raymond James decreased their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Trading Up 0.2 %

Shares of FDX stock opened at $274.34 on Friday. The stock’s fifty day moving average is $277.10 and its two-hundred day moving average is $274.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market capitalization of $67.03 billion, a P/E ratio of 16.92, a PEG 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.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that FedEx Co. will post 19.59 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 $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend 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.