Phillips Wealth Planners LLC Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

Phillips Wealth Planners LLC reduced its position in FedEx Co. (NYSE:FDX) by 18.7% in the third quarter, Holdings Channel.com reports. The firm owned 1,431 shares of the shipping service provider’s stock after selling 329 shares during the quarter. Phillips Wealth Planners LLC’s holdings in FedEx were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FDX. Evermay Wealth Management LLC lifted its holdings 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 worth $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the third quarter valued at about $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the second quarter valued at about $39,000. Abound Wealth Management increased its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the period. Finally, Sachetta LLC increased its holdings in shares of 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 buying an additional 37 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FDX has been the topic of several recent research reports. Bernstein Bank raised their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. The Goldman Sachs Group decreased their price objective on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Evercore ISI reduced their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Bank of America reduced their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Raymond James dropped their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Up 0.2 %

Shares of FDX stock opened at $274.34 on Friday. The company has a 50 day simple moving average of $277.10 and a two-hundred day simple moving average of $274.96. The stock has a market cap of $67.03 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.10 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.55 EPS. On average, research analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s payout ratio is currently 34.05%.

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.