OneAscent Financial Services LLC Trims Holdings in FedEx Co. (NYSE:FDX)

OneAscent Financial Services LLC reduced its stake in shares of FedEx Co. (NYSE:FDX) by 10.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,801 shares of the shipping service provider’s stock after selling 329 shares during the period. OneAscent Financial Services LLC’s holdings in FedEx were worth $770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors lifted its position 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 worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in FedEx by 473.8% in 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 acquiring an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. raised its position in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the last quarter. Ceredex Value Advisors LLC grew its stake in shares of FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after purchasing an additional 161,022 shares during the period. Finally, Empyrean Capital Partners LP purchased a new stake in shares of FedEx in the second quarter valued at approximately $46,475,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on FDX shares. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. UBS Group cut their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Robert W. Baird dropped their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Bank of America decreased their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Up 0.3 %

Shares of FDX stock opened at $295.21 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a fifty day moving average price of $275.64 and a 200 day moving average price of $276.71. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The stock has a market cap of $72.13 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last released 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 company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the company earned $4.55 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

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.