Sicart Associates LLC Sells 400 Shares of FedEx Co. (NYSE:FDX)

Sicart Associates LLC decreased its holdings in FedEx Co. (NYSE:FDX) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,781 shares of the shipping service provider’s stock after selling 400 shares during the period. FedEx accounts for about 2.9% of Sicart Associates LLC’s holdings, making the stock its 12th biggest position. Sicart Associates LLC’s holdings in FedEx were worth $8,192,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FDX. Hennion & Walsh Asset Management Inc. lifted its stake in FedEx by 20.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,564 shares of the shipping service provider’s stock worth $1,322,000 after purchasing an additional 785 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in FedEx in the 1st quarter worth approximately $205,000. Cullinan Associates Inc. bought a new stake in FedEx in the first quarter valued at approximately $217,000. Carret Asset Management LLC boosted its stake in shares of FedEx by 3.0% during the first quarter. Carret Asset Management LLC now owns 29,488 shares of the shipping service provider’s stock valued at $8,544,000 after purchasing an additional 847 shares during the period. Finally, Olstein Capital Management L.P. grew its holdings in shares of FedEx by 20.0% in the first quarter. Olstein Capital Management L.P. now owns 27,000 shares of the shipping service provider’s stock worth $7,823,000 after purchasing an additional 4,500 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. Raymond James dropped their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. 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 research report on Wednesday, September 18th. Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Bernstein Bank boosted their target price on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Stephens reiterated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Two 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Performance

FedEx stock traded up $0.19 during trading hours on Tuesday, reaching $275.64. 471,440 shares of the stock were exchanged, compared to its average volume of 1,824,808. FedEx Co. has a 52-week low of $229.07 and a 52-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. The firm’s 50 day moving average is $278.57 and its 200 day moving average is $274.86. The stock has a market cap of $67.34 billion, a P/E ratio of 17.03, a P/E/G ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly 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 business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’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. Analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

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.