Zions Bancorporation N.A. Has $52,000 Stock Holdings in FedEx Co. (NYSE:FDX)

Zions Bancorporation N.A. lessened its stake in FedEx Co. (NYSE:FDX) by 18.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 190 shares of the shipping service provider’s stock after selling 42 shares during the quarter. Zions Bancorporation N.A.’s holdings in FedEx were worth $52,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. SeaCrest Wealth Management LLC increased its holdings in shares of FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC increased its stake in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC raised its position in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC boosted its holdings in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after acquiring an additional 37 shares during the last quarter. Finally, Sachetta LLC lifted 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.

FedEx Stock Up 0.7 %

FDX stock opened at $294.46 on Friday. The company has a market cap of $71.94 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The business has a 50 day moving average price of $275.18 and a two-hundred day moving average price of $276.07. 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 (NYSE:FDX) last issued its earnings results 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 for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.55 earnings per share. Analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s payout ratio is currently 34.05%.

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price target 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. Stephens reissued an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Loop Capital decreased their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $316.04.

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.