FedEx Co. (NYSE:FDX) Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC cut its position in FedEx Co. (NYSE:FDX) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,413 shares of the shipping service provider’s stock after selling 99 shares during the quarter. Verus Capital Partners LLC’s holdings in FedEx were worth $934,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FDX. SeaCrest Wealth Management LLC raised its stake in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the period. LRI Investments LLC raised its position in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC boosted its position in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC grew its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Stephens reiterated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note 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 note on Monday, September 23rd. The Goldman Sachs Group reduced their price objective on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Finally, HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $315.42.

FedEx Stock Performance

FDX opened at $287.32 on Wednesday. The business has a fifty day simple moving average of $275.18 and a 200-day simple moving average of $275.69. The firm has a market cap of $70.20 billion, a PE ratio of 17.72, a P/E/G ratio of 1.16 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted 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 for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.55 earnings per share. As a group, equities analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced 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. This represents a $5.52 annualized dividend and a yield of 1.92%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

About FedEx

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.