OneDigital Investment Advisors LLC Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

OneDigital Investment Advisors LLC cut its holdings in FedEx Co. (NYSE:FDX) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,900 shares of the shipping service provider’s stock after selling 89 shares during the period. OneDigital Investment Advisors LLC’s holdings in FedEx were worth $1,615,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Evermay Wealth Management LLC boosted its position in shares of 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 buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the third quarter valued at approximately $31,000. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter worth approximately $39,000. Abound Wealth Management grew its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of FedEx during the 3rd quarter valued at $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 0.7 %

Shares of FDX opened at $294.46 on Monday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week 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 company’s fifty day moving average is $275.40 and its 200 day moving average is $276.48. The stock has a market capitalization of $71.94 billion, a PE ratio of 18.17, a P/E/G ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the business posted $4.55 EPS. The firm’s revenue was down .5% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s dividend payout ratio is presently 34.05%.

Analyst Ratings Changes

A number of analysts recently commented on FDX shares. UBS Group reduced their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Loop Capital reduced their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $316.04.

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.