FedEx Co. (NYSE:FDX) Shares Sold by Syntax Research Inc.

Syntax Research Inc. trimmed its holdings in FedEx Co. (NYSE:FDX) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,793 shares of the shipping service provider’s stock after selling 548 shares during the quarter. FedEx comprises approximately 2.2% of Syntax Research Inc.’s portfolio, making the stock its 18th biggest position. Syntax Research Inc.’s holdings in FedEx were worth $3,228,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. DGS Capital Management LLC grew its position in shares of FedEx by 10.7% in the 3rd quarter. DGS Capital Management LLC now owns 1,405 shares of the shipping service provider’s stock valued at $385,000 after buying an additional 136 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of FedEx by 251.8% during the third quarter. Synovus Financial Corp now owns 14,936 shares of the shipping service provider’s stock worth $4,087,000 after purchasing an additional 10,690 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of FedEx by 18.9% in the 3rd quarter. Tidal Investments LLC now owns 18,870 shares of the shipping service provider’s stock valued at $5,164,000 after purchasing an additional 2,994 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of FedEx by 42.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,372 shares of the shipping service provider’s stock valued at $2,839,000 after purchasing an additional 3,078 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Down 2.1 %

FedEx stock opened at $277.35 on Wednesday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm has a market capitalization of $67.76 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The stock’s fifty day moving average is $282.08 and its two-hundred day moving average is $281.76. 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 posted its 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the business posted $4.55 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is currently 34.05%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. StockNews.com cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of FedEx from $350.00 to $366.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $316.68.

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.