Modera Wealth Management LLC Lowers Holdings in FedEx Co. (NYSE:FDX)

Modera Wealth Management LLC lowered its holdings in FedEx Co. (NYSE:FDX) by 1.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,076 shares of the shipping service provider’s stock after selling 664 shares during the quarter. Modera Wealth Management LLC’s holdings in FedEx were worth $10,147,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. GHP Investment Advisors Inc. raised its holdings in FedEx by 0.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 29,275 shares of the shipping service provider’s stock valued at $8,012,000 after buying an additional 126 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of FedEx by 2.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 45,101 shares of the shipping service provider’s stock valued at $12,343,000 after acquiring an additional 1,203 shares during the period. PFG Investments LLC lifted its holdings in shares of FedEx by 9.8% in the 3rd quarter. PFG Investments LLC now owns 5,084 shares of the shipping service provider’s stock worth $1,391,000 after acquiring an additional 452 shares during the last quarter. Horizon Bancorp Inc. IN boosted its position in shares of FedEx by 291.5% during the 3rd quarter. Horizon Bancorp Inc. IN now owns 642 shares of the shipping service provider’s stock worth $176,000 after purchasing an additional 478 shares during the period. Finally, Arkadios Wealth Advisors increased its holdings in FedEx by 105.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 4,528 shares of the shipping service provider’s stock valued at $1,239,000 after purchasing an additional 2,326 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FDX shares. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Citigroup initiated coverage on FedEx in a research report on Wednesday, October 9th. They issued a “buy” rating and a $301.00 target price for the company. Stifel Nicolaus lowered their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. TD Cowen cut 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. Finally, HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Down 0.3 %

FDX opened at $272.12 on Friday. FedEx Co. has a one year low of $224.69 and a one year 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. The stock has a market capitalization of $66.48 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17. The business’s 50-day simple moving average is $278.83 and its 200-day simple moving average is $274.81.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.55 EPS. Analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. FedEx’s dividend payout ratio (DPR) 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.