Cassaday & Co Wealth Management LLC Reduces Stock Position in FedEx Co. (NYSE:FDX)

Cassaday & Co Wealth Management LLC cut its stake in FedEx Co. (NYSE:FDX) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 955 shares of the shipping service provider’s stock after selling 91 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in FedEx were worth $261,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Czech National Bank lifted its stake in FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after purchasing an additional 2,767 shares during the last quarter. Magnolia Capital Advisors LLC bought a new stake in shares of FedEx during the 2nd quarter worth approximately $9,226,000. Raymond James & Associates lifted its stake in shares of FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after acquiring an additional 31,241 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in FedEx during the 2nd quarter valued at $22,052,000. Finally, Versor Investments LP bought a new position in FedEx in the 3rd quarter valued at $2,096,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $295.21 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market cap of $72.13 billion, a PE ratio of 18.21, a PEG ratio of 1.23 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 business’s fifty day simple moving average is $275.64 and its 200-day simple moving average is $276.71.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS 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 business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the business posted $4.55 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s payout ratio is 34.05%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FDX shares. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Evercore ISI lowered their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, UBS Group reduced their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

FedEx 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.