Private Management Group Inc. Decreases Stock Position in FedEx Co. (NYSE:FDX)

Private Management Group Inc. lessened its stake in shares of FedEx Co. (NYSE:FDX) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,578 shares of the shipping service provider’s stock after selling 59 shares during the period. Private Management Group Inc.’s holdings in FedEx were worth $20,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FDX. Capital International Investors grew its holdings in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Mawer Investment Management Ltd. increased its stake in shares of FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares during the period. International Assets Investment Management LLC raised its holdings in shares of FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 0.2 %

Shares of FDX traded up $0.50 during trading on Friday, reaching $274.35. 1,370,415 shares of the company traded hands, compared to its average volume of 1,819,672. The stock has a 50-day simple moving average of $277.10 and a 200-day simple moving average of $274.96. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a market cap of $67.03 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the firm earned $4.55 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FDX shares. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Susquehanna reduced their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Raymond James decreased their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Stifel Nicolaus lowered their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Bernstein Bank increased their target price on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.17.

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.