Peapack Gladstone Financial Corp Has $15.31 Million Position in FedEx Co. (NYSE:FDX)

Peapack Gladstone Financial Corp cut its position in FedEx Co. (NYSE:FDX) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,930 shares of the shipping service provider’s stock after selling 3,209 shares during the period. Peapack Gladstone Financial Corp’s holdings in FedEx were worth $15,307,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Evermay Wealth Management LLC grew its stake 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 valued at $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of FedEx in the 3rd quarter valued at about $31,000. Abound Wealth Management grew its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx in the 3rd quarter valued at about $47,000. Finally, Sachetta LLC grew its stake in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on FDX. Bernstein Bank raised their price target 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. Barclays raised their price target on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Loop Capital dropped their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $316.68.

FedEx Trading Up 0.9 %

FedEx stock opened at $283.80 on Friday. The stock has a market cap of $69.34 billion, a P/E ratio of 17.51, a PEG ratio of 1.17 and a beta of 1.18. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm’s fifty day moving average price is $280.84 and its 200-day moving average price is $280.63. 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 released its quarterly 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). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.55 EPS. Equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.95%. 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.