Howard Capital Management Group LLC Sells 516 Shares of FedEx Co. (NYSE:FDX)

Howard Capital Management Group LLC lessened its stake in FedEx Co. (NYSE:FDX) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,147 shares of the shipping service provider’s stock after selling 516 shares during the period. FedEx accounts for 1.9% of Howard Capital Management Group LLC’s portfolio, making the stock its 26th largest holding. Howard Capital Management Group LLC’s holdings in FedEx were worth $26,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Central Valley Advisors LLC bought a new position in FedEx in the 2nd quarter worth approximately $39,000. Abound Wealth Management raised its position in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Sachetta LLC raised its position in shares of 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 acquiring an additional 37 shares during the last quarter. ORG Partners LLC bought a new stake in shares of FedEx during the 2nd quarter valued at $50,000. Finally, OFI Invest Asset Management raised its position in shares of FedEx by 91.8% during the 1st quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock valued at $50,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on FDX shares. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Wells Fargo & Company boosted their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Loop Capital decreased 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. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

FDX stock opened at $274.33 on Friday. 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 Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The firm’s fifty day moving average is $280.16 and its 200 day moving average is $275.04. The firm has a market cap of $67.51 billion, a P/E ratio of 15.92, a P/E/G ratio of 1.06 and a beta of 1.17.

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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts predict that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

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.