Bleakley Financial Group LLC Sells 5,882 Shares of FedEx Co. (NYSE:FDX)

Bleakley Financial Group LLC reduced its position in FedEx Co. (NYSE:FDX) by 32.4% in the third quarter, Holdings Channel.com reports. The fund owned 12,275 shares of the shipping service provider’s stock after selling 5,882 shares during the quarter. Bleakley Financial Group LLC’s holdings in FedEx were worth $3,359,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Central Valley Advisors LLC bought a new position in FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management boosted its stake in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Sachetta LLC increased its stake in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of FedEx in the 2nd quarter valued at about $50,000. Finally, OFI Invest Asset Management boosted its position in shares of FedEx by 91.8% during the 1st quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock valued at $50,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

Shares of FedEx stock opened at $274.45 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The company has a market cap of $67.54 billion, a P/E ratio of 15.93, a PEG ratio of 1.06 and a beta of 1.17. The company’s fifty day simple moving average is $280.10 and its two-hundred day simple moving average is $275.00.

FedEx (NYSE:FDX) last announced 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company 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 EPS. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts anticipate that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

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

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent analyst reports. Argus raised their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Stifel Nicolaus lowered their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bank of America cut their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Susquehanna reduced their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $314.17.

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.