New South Capital Management Inc. Sells 2,440 Shares of FedEx Co. (NYSE:FDX)

New South Capital Management Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 1.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,696 shares of the shipping service provider’s stock after selling 2,440 shares during the quarter. FedEx comprises about 1.9% of New South Capital Management Inc.’s portfolio, making the stock its 21st biggest position. New South Capital Management Inc.’s holdings in FedEx were worth $47,537,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Capital International Investors lifted its position in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Ameriprise Financial Inc. lifted its position in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares during the period. Dimensional Fund Advisors LP lifted its position in FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after acquiring an additional 121,240 shares during the period. Finally, Sentry LLC lifted its position in FedEx by 0.5% during the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after acquiring an additional 6,657 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FDX shares. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. UBS Group cut their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. BMO Capital Markets lowered their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Finally, Stifel Nicolaus lowered their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Performance

Shares of FDX traded up $1.02 during mid-day trading on Tuesday, hitting $290.81. 8,510 shares of the company’s stock were exchanged, compared to its average volume of 1,803,804. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm has a market capitalization of $71.05 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.15 and a beta of 1.17. The business’s 50 day moving average is $275.18 and its two-hundred day moving average is $275.69. 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 announced its quarterly earnings data 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 firm 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%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 EPS. On average, equities analysts expect 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 was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued 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 yield of 1.90%. FedEx’s dividend payout ratio (DPR) is presently 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.