Janney Montgomery Scott LLC Trims Stock Holdings in FedEx Co. (NYSE:FDX)

Janney Montgomery Scott LLC cut its holdings in shares of FedEx Co. (NYSE:FDX) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,368 shares of the shipping service provider’s stock after selling 5,946 shares during the period. Janney Montgomery Scott LLC’s holdings in FedEx were worth $20,627,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Evermay Wealth Management LLC increased its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in FedEx in the 3rd quarter valued at about $31,000. Central Valley Advisors LLC purchased a new stake in FedEx during the 2nd quarter valued at approximately $39,000. Abound Wealth Management lifted its position in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the period. Finally, Sachetta LLC increased its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Up 1.6 %

Shares of FedEx stock opened at $275.45 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The business has a 50-day moving average of $276.19 and a 200-day moving average of $275.22. The company has a market capitalization of $67.30 billion, a PE ratio of 16.99, a P/E/G ratio of 1.10 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is currently 34.05%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FDX shares. Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. The Goldman Sachs Group cut their price target on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Evercore ISI cut their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx 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.