Hardy Reed LLC Sells 331 Shares of FedEx Co. (NYSE:FDX)

Hardy Reed LLC decreased its stake in FedEx Co. (NYSE:FDX) by 21.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,189 shares of the shipping service provider’s stock after selling 331 shares during the quarter. Hardy Reed LLC’s holdings in FedEx were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FDX. Ameriprise Financial Inc. raised its position in shares of FedEx by 34.6% in the 2nd 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 period. Dimensional Fund Advisors LP raised 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 worth $654,312,000 after purchasing an additional 121,240 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after purchasing an additional 13,093 shares in the last quarter. Sentry LLC lifted its holdings in FedEx by 0.5% during the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after acquiring an additional 6,657 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after purchasing an additional 647,926 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

NYSE:FDX opened at $302.95 on Wednesday. The firm has a market capitalization of $74.02 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.27 and a beta of 1.17. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a fifty day moving average of $276.70 and a 200-day moving average of $278.25. 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 announced its earnings results 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 for the quarter, compared to analysts’ expectations of $21.87 billion. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.55 EPS. As a group, sell-side analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Raymond James dropped their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. UBS Group dropped their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Barclays boosted their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Two 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $316.04.

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.