Moors & Cabot Inc. Decreases Stake in FedEx Co. (NYSE:FDX)

Moors & Cabot Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 25.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,926 shares of the shipping service provider’s stock after selling 649 shares during the quarter. Moors & Cabot Inc.’s holdings in FedEx were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Evermay Wealth Management LLC raised its stake in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new stake in FedEx in the 3rd quarter valued at $31,000. Central Valley Advisors LLC purchased a new position in FedEx in the second quarter valued at about $39,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx in the third quarter worth about $47,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Up 1.6 %

NYSE FDX opened at $299.97 on Friday. The firm has a market capitalization of $73.29 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.17. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a 50-day simple moving average of $276.34 and a 200-day simple moving average of $277.42. 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 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 company had revenue of $21.58 billion for 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%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company posted $4.55 earnings per share. On average, equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. Bank of America dropped their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Loop Capital lowered their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Evercore ISI decreased their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research 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 given a buy rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $316.04.

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.