FedEx Co. (NYSE:FDX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in FedEx Co. (NYSE:FDX) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,709,330 shares of the shipping service provider’s stock after selling 80,090 shares during the period. FedEx accounts for approximately 2.6% of Primecap Management Co. CA’s investment portfolio, making the stock its 6th largest position. Primecap Management Co. CA owned 0.05% of FedEx worth $3,478,289,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Advisors LLC lifted its position in FedEx by 2.8% in the third quarter. Cornerstone Advisors LLC now owns 7,400 shares of the shipping service provider’s stock valued at $2,025,000 after buying an additional 200 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of FedEx by 3.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock worth $360,000 after purchasing an additional 38 shares during the period. Payden & Rygel increased its holdings in FedEx by 12.1% in the 3rd quarter. Payden & Rygel now owns 6,500 shares of the shipping service provider’s stock valued at $1,779,000 after purchasing an additional 700 shares during the last quarter. EagleClaw Capital Managment LLC raised its position in FedEx by 0.6% in the third quarter. EagleClaw Capital Managment LLC now owns 18,823 shares of the shipping service provider’s stock valued at $5,151,000 after purchasing an additional 120 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in FedEx by 1.3% during the third quarter. First Horizon Advisors Inc. now owns 3,935 shares of the shipping service provider’s stock worth $1,077,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday, September 20th. Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. TD Cowen dropped their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two 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’s stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Down 1.7 %

FDX stock opened at $288.03 on Thursday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The stock has a market capitalization of $70.37 billion, a P/E ratio of 17.77, a PEG ratio of 1.22 and a beta of 1.17. The company has a 50 day moving average price of $275.89 and a two-hundred day moving average price of $277.02. 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 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. FedEx’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.92%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

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.