Eagle Asset Management Inc. Sells 31,695 Shares of FedEx Co. (NYSE:FDX)

by · The Markets Daily

Eagle Asset Management Inc. lowered its stake in FedEx Co. (NYSE:FDX – Free Report) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,554 shares of the shipping service provider’s stock after selling 31,695 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.08% of FedEx worth $57,128,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Seven Eight Capital LP acquired a new position in shares of FedEx in the first quarter valued at approximately $220,000. LRI Investments LLC bought a new stake in FedEx in the first quarter valued at approximately $123,000. Epoch Investment Partners Inc. increased its position in FedEx by 4.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 2,367 shares of the shipping service provider’s stock valued at $686,000 after purchasing an additional 97 shares during the period. BOKF NA lifted its position in shares of FedEx by 0.9% in the 1st quarter. BOKF NA now owns 8,808 shares of the shipping service provider’s stock worth $2,467,000 after purchasing an additional 81 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of FedEx by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,056,561 shares of the shipping service provider’s stock valued at $306,129,000 after purchasing an additional 82,201 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on FDX. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Friday, September 20th. Susquehanna lowered their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Bank of America decreased their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.04.

View Our Latest Analysis on FedEx

FedEx Price Performance

NYSE:FDX opened at $295.34 on Friday. The firm has a market capitalization of $72.16 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.22 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a fifty day moving average of $276.07 and a 200 day moving average of $277.14. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.55 EPS. On average, research analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. 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 payout ratio is 34.05%.

FedEx Company Profile

(Free Report)

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.

Read More