Gulf International Bank UK Ltd Sells 845 Shares of FedEx Co. (NYSE:FDX)

Gulf International Bank UK Ltd reduced its position in shares of FedEx Co. (NYSE:FDX) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,879 shares of the shipping service provider’s stock after selling 845 shares during the period. Gulf International Bank UK Ltd’s holdings in FedEx were worth $5,166,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FDX. FSM Wealth Advisors LLC grew its position in shares of FedEx by 3.9% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,113 shares of the shipping service provider’s stock worth $305,000 after buying an additional 42 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in FedEx in the third quarter valued at $51,000. QRG Capital Management Inc. increased its position in FedEx by 8.8% during the 3rd quarter. QRG Capital Management Inc. now owns 69,981 shares of the shipping service provider’s stock valued at $19,152,000 after purchasing an additional 5,646 shares during the period. National Pension Service raised its holdings in FedEx by 15.1% in the 3rd quarter. National Pension Service now owns 614,402 shares of the shipping service provider’s stock worth $168,150,000 after purchasing an additional 80,821 shares in the last quarter. Finally, Cohen Capital Management Inc. lifted its position in shares of FedEx by 0.8% in the 3rd quarter. Cohen Capital Management Inc. now owns 10,414 shares of the shipping service provider’s stock worth $2,850,000 after purchasing an additional 80 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 1.6 %

FDX stock opened at $275.45 on Wednesday. The business’s 50-day moving average is $276.19 and its two-hundred day moving average is $275.22. The company has a market cap of $67.30 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.10 and a beta of 1.17. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week 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.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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 return on equity of 15.61% and a net margin of 4.62%. The business 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 business posted $4.55 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. FedEx’s dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

Several analysts have commented on the stock. TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report 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. Evercore ISI reduced their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, UBS Group decreased their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

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.