Asset Advisors Investment Management LLC Sells 1,590 Shares of FedEx Co. (NYSE:FDX)

Asset Advisors Investment Management LLC reduced its position in FedEx Co. (NYSE:FDX) by 29.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,750 shares of the shipping service provider’s stock after selling 1,590 shares during the period. Asset Advisors Investment Management LLC’s holdings in FedEx were worth $1,026,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC increased its position in FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares in the last quarter. LRI Investments LLC boosted its position in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC grew its stake in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC increased its holdings in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its stake in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $283.80 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market capitalization of $69.34 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The firm’s 50-day moving average is $280.84 and its two-hundred day moving average is $280.63. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data 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). The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.55 earnings per share. Analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors 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 1.95%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Analyst Ratings Changes

A number of research firms have weighed in on FDX. The Goldman Sachs Group cut their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Raymond James decreased their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Barclays lifted their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $316.68.

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.