Boston Family Office LLC Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

Boston Family Office LLC cut its stake in FedEx Co. (NYSE:FDX) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,465 shares of the shipping service provider’s stock after selling 325 shares during the period. Boston Family Office LLC’s holdings in FedEx were worth $2,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. increased its position in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Ceredex Value Advisors LLC raised its stake in FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after purchasing an additional 161,022 shares during the period. Empyrean Capital Partners LP acquired a new position in FedEx in the 2nd quarter valued at about $46,475,000. Finally, Interval Partners LP grew its stake in shares of FedEx by 408.3% in the 2nd quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock valued at $57,296,000 after buying an additional 153,497 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $299.97 on Monday. 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. The firm has a market cap of $73.29 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.25 and a beta of 1.17. The stock’s 50-day moving average is $276.34 and its two-hundred day moving average is $277.68.

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

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FDX shares. The Goldman Sachs Group decreased their price objective on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Bank of America dropped their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

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.