Ashton Thomas Private Wealth LLC Sells 1,706 Shares of FedEx Co. (NYSE:FDX)

Ashton Thomas Private Wealth LLC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 12.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,045 shares of the shipping service provider’s stock after selling 1,706 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in FedEx were worth $3,296,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter valued at about $31,000. Central Valley Advisors LLC bought a new position in FedEx during the 2nd quarter worth approximately $39,000. Abound Wealth Management increased its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC raised its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $287.32 on Wednesday. The stock has a market capitalization of $70.20 billion, a PE ratio of 17.72, a P/E/G ratio of 1.16 and a beta of 1.17. The business has a fifty day moving average price of $275.18 and a two-hundred day moving average price of $275.69. 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 current ratio of 1.28 and a quick ratio of 1.24.

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

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.92%. FedEx’s payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FDX. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. TD Cowen cut their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Loop Capital dropped their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Finally, HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $315.42.

FedEx 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.