New South Capital Management Inc. Sells 2,440 Shares of FedEx Co. (NYSE:FDX)

New South Capital Management Inc. lessened its holdings in shares of FedEx Co. (NYSE:FDX) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,696 shares of the shipping service provider’s stock after selling 2,440 shares during the quarter. FedEx makes up 1.9% of New South Capital Management Inc.’s portfolio, making the stock its 21st biggest position. New South Capital Management Inc. owned 0.07% of FedEx worth $47,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Capital International Investors raised 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 worth $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. raised 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 worth $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. International Assets Investment Management LLC raised its holdings in FedEx by 473.8% in 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 purchasing an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. raised 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 worth $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its stake in shares of FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after acquiring an additional 161,022 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com cut FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Susquehanna dropped their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. BMO Capital Markets dropped their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Price Performance

FedEx stock traded up $1.02 during midday trading on Tuesday, reaching $290.81. 8,510 shares of the stock traded hands, compared to its average volume of 1,803,804. The stock has a market cap of $71.05 billion, a P/E ratio of 17.88, a PEG ratio of 1.15 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The stock’s fifty day moving average is $275.18 and its 200-day moving average is $275.69. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the business earned $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.90%. 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.