FedEx Co. (NYSE:FDX) Stake Cut by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 15.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,292 shares of the shipping service provider’s stock after selling 799 shares during the period. Clear Harbor Asset Management LLC’s holdings in FedEx were worth $1,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SeaCrest Wealth Management LLC grew its position in shares of 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 during the last quarter. LRI Investments LLC grew its holdings 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 valued at $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC raised its position 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 lifted its holdings in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC boosted its position in FedEx by 29.1% during 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. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Down 0.3 %

FedEx stock opened at $272.12 on Friday. The firm’s 50 day moving average price is $278.83 and its two-hundred day moving average price is $274.81. The firm has a market cap of $66.48 billion, a PE ratio of 16.79, a P/E/G ratio of 1.08 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the business posted $4.55 earnings per share. FedEx’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is presently 34.05%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of analyst reports. UBS Group dropped their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Bank of America cut their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Friday, September 20th. Two 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.17.

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.