Sompo Asset Management Co. Ltd. Decreases Holdings in FedEx Co. (NYSE:FDX)

Sompo Asset Management Co. Ltd. lessened its stake in shares of FedEx Co. (NYSE:FDX) by 12.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 870 shares of the shipping service provider’s stock after selling 120 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in FedEx were worth $238,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Cowen decreased their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Bank of America reduced their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Finally, Evercore ISI dropped their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Trading Up 1.6 %

FedEx stock opened at $299.97 on Monday. The firm has a 50 day moving average of $276.34 and a 200 day moving average of $277.68. The firm has a market capitalization of $73.29 billion, a price-to-earnings ratio of 18.51, a P/E/G 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 company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate 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 company earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm 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 1.84%. FedEx’s payout ratio is 34.05%.

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.