FedEx Co. (NYSE:FDX) Shares Sold by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC lowered its stake in FedEx Co. (NYSE:FDX) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,265 shares of the shipping service provider’s stock after selling 845 shares during the quarter. FedEx makes up approximately 3.7% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Processus Wealth & Capital Management LLC’s holdings in FedEx were worth $4,451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Evermay Wealth Management LLC grew its position in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC acquired a new position in FedEx during the second quarter worth approximately $39,000. Abound Wealth Management raised its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx in the third quarter valued at approximately $47,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FDX shares. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Bernstein Bank increased their price target on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday, September 20th. Finally, Citigroup initiated coverage on FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Performance

NYSE:FDX opened at $286.16 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $69.91 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.13 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 stock’s 50-day simple moving average is $275.36 and its 200 day simple moving average is $275.43.

FedEx (NYSE:FDX) last issued its earnings results 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 company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the business earned $4.55 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

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. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s dividend payout ratio is presently 34.05%.

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.