FedEx Co. (NYSE:FDX) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. decreased its position in shares of FedEx Co. (NYSE:FDX) by 12.1% in the third quarter, HoldingsChannel reports. The firm owned 870 shares of the shipping service provider’s stock after selling 120 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in FedEx were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evermay Wealth Management LLC raised 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 in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of FedEx in the third quarter valued at approximately $31,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx during the second quarter worth approximately $39,000. Abound Wealth Management increased its position in shares of FedEx by 175.9% during 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 in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in FedEx during the third quarter worth $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Evercore ISI dropped their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Barclays upped their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

FedEx Stock Performance

Shares of FDX stock opened at $299.97 on Monday. The stock has a fifty day moving average price of $276.34 and a 200 day moving average price of $277.68. The stock has a market cap of $73.29 billion, a PE ratio of 18.51, a P/E/G ratio of 1.23 and a beta of 1.17. FedEx Co. has a 1 year low of $234.45 and a 1 year 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.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the firm posted $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. 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.