Stock Yards Bank & Trust Co. Reduces Holdings in FedEx Co. (NYSE:FDX)

Stock Yards Bank & Trust Co. cut its stake in FedEx Co. (NYSE:FDX) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,691 shares of the shipping service provider’s stock after selling 224 shares during the period. Stock Yards Bank & Trust Co.’s holdings in FedEx were worth $1,831,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FDX. Tudor Financial Inc. acquired a new stake in shares of FedEx in the 3rd quarter valued at about $282,000. SkyView Investment Advisors LLC lifted its stake in FedEx by 4.2% in the third quarter. SkyView Investment Advisors LLC now owns 1,875 shares of the shipping service provider’s stock valued at $513,000 after buying an additional 76 shares during the last quarter. Aldebaran Financial Inc. boosted its holdings in shares of FedEx by 8.7% in the third quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider’s stock valued at $307,000 after acquiring an additional 90 shares during the period. Virtu Financial LLC purchased a new position in shares of FedEx during the third quarter worth approximately $3,405,000. Finally, TCW Group Inc. raised its position in FedEx by 76.0% in the 3rd quarter. TCW Group Inc. now owns 32,310 shares of the shipping service provider’s stock valued at $8,843,000 after purchasing an additional 13,954 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of a number of recent research reports. HSBC lowered shares of 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. Bernstein Bank upped their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. BMO Capital Markets lowered their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $316.68.

FedEx Stock Performance

NYSE:FDX opened at $283.80 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $69.34 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The firm has a 50-day moving average price of $280.41 and a two-hundred day moving average price of $280.60. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the business earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is currently 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.