Swiss National Bank Reduces Holdings in FedEx Co. (NYSE:FDX)

Swiss National Bank reduced its position in FedEx Co. (NYSE:FDX) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 688,900 shares of the shipping service provider’s stock after selling 3,900 shares during the period. Swiss National Bank owned approximately 0.28% of FedEx worth $188,538,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $31,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the second quarter worth approximately $39,000. Abound Wealth Management increased its stake in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in FedEx in the third quarter valued at $47,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Up 0.7 %

FedEx stock opened at $294.46 on Monday. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The stock has a market capitalization of $71.94 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. The firm has a 50 day simple moving average of $275.40 and a 200-day simple moving average of $276.48. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last released its 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 return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities research analysts expect 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 will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FDX shares. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a report on Friday, September 20th. Loop Capital lowered their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. The Goldman Sachs Group reduced their target price on FedEx from $333.00 to $332.00 in a 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, TD Cowen reduced their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

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.