Cabot Wealth Management Inc. Has $15.53 Million Holdings in FedEx Co. (NYSE:FDX)

Cabot Wealth Management Inc. lessened its stake in shares of FedEx Co. (NYSE:FDX) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,753 shares of the shipping service provider’s stock after selling 677 shares during the period. FedEx comprises 1.9% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 14th largest holding. Cabot Wealth Management Inc.’s holdings in FedEx were worth $15,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB raised its holdings in FedEx by 0.4% during the 3rd quarter. Swedbank AB now owns 111,426 shares of the shipping service provider’s stock worth $30,495,000 after buying an additional 403 shares during the period. Birch Capital Management LLC increased its holdings in shares of FedEx by 12.8% in the 3rd quarter. Birch Capital Management LLC now owns 5,950 shares of the shipping service provider’s stock valued at $1,628,000 after purchasing an additional 673 shares during the period. Richwood Investment Advisors LLC increased its holdings in shares of FedEx by 3.7% in the 3rd quarter. Richwood Investment Advisors LLC now owns 1,981 shares of the shipping service provider’s stock valued at $542,000 after purchasing an additional 70 shares during the period. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in shares of FedEx by 12.4% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 791 shares of the shipping service provider’s stock valued at $216,000 after purchasing an additional 87 shares during the period. Finally, Creative Planning increased its holdings in shares of FedEx by 15.7% in the 3rd quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock valued at $22,237,000 after purchasing an additional 11,081 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX traded down $1.53 during trading hours on Tuesday, reaching $265.92. The stock had a trading volume of 1,354,065 shares, compared to its average volume of 1,855,035. The business’s fifty day moving average is $280.77 and its two-hundred day moving average is $275.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market cap of $65.44 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.06 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its 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 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%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.55 earnings per share. As a group, research analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.08%. FedEx’s dividend payout ratio is currently 32.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FDX shares. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Loop Capital dropped their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, UBS Group lowered their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $314.17.

Insiders Place Their Bets

In other FedEx news, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.73% of the company’s stock.

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.