New Century Financial Group LLC Sells 3,918 Shares of FedEx Co. (NYSE:FDX)

New Century Financial Group LLC cut its holdings in FedEx Co. (NYSE:FDX) by 74.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,375 shares of the shipping service provider’s stock after selling 3,918 shares during the period. New Century Financial Group LLC’s holdings in FedEx were worth $376,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Capital International Investors increased its position in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Vanguard Group Inc. grew its position in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the period. Ameriprise Financial Inc. raised its position in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Finally, Empyrean Capital Partners LP bought a new stake in shares of FedEx in the second quarter valued at about $46,475,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research reports. Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Loop Capital decreased 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. Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Up 0.1 %

Shares of FDX opened at $274.40 on Monday. The business’s fifty day moving average price is $280.10 and its two-hundred day moving average price is $274.98. The firm has a market capitalization of $67.52 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.06 and a beta of 1.17. FedEx Co. has a 52 week low of $224.69 and a 52 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.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.55 EPS. On average, analysts predict that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

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.