MetLife Investment Management LLC Sells 1,768 Shares of FedEx Co. (NYSE:FDX)

MetLife Investment Management LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,619 shares of the shipping service provider’s stock after selling 1,768 shares during the quarter. MetLife Investment Management LLC’s holdings in FedEx were worth $16,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FDX. Evermay Wealth Management LLC increased its position in FedEx by 72.7% during the third 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 last quarter. Highline Wealth Partners LLC bought a new position in FedEx during the 3rd quarter valued at about $31,000. Central Valley Advisors LLC purchased a new stake in FedEx in the 2nd quarter worth about $39,000. Abound Wealth Management lifted its stake in 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 purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of FedEx during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FDX. The Goldman Sachs Group decreased their price target on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Bernstein Bank lifted their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. Susquehanna decreased their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Finally, Robert W. Baird dropped their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Price Performance

Shares of FDX opened at $303.41 on Thursday. The company has a 50 day moving average of $276.80 and a two-hundred day moving average of $278.42. The company has a market cap of $74.13 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the firm earned $4.55 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. FedEx’s dividend payout ratio (DPR) is currently 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.