First Dallas Securities Inc. Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

First Dallas Securities Inc. cut its stake in FedEx Co. (NYSE:FDX) by 6.1% in the third quarter, HoldingsChannel.com reports. The fund owned 3,222 shares of the shipping service provider’s stock after selling 210 shares during the period. First Dallas Securities Inc.’s holdings in FedEx were worth $882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Geode Capital Management LLC raised its stake in FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after buying an additional 67,502 shares during the last quarter. Brophy Wealth Management LLC bought a new stake in shares of FedEx in the third quarter worth $510,000. LRI Investments LLC lifted its holdings in FedEx by 45.9% in the third quarter. LRI Investments LLC now owns 664 shares of the shipping service provider’s stock valued at $194,000 after acquiring an additional 209 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in FedEx by 5.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 70,632 shares of the shipping service provider’s stock worth $19,331,000 after purchasing an additional 3,738 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in shares of FedEx by 68.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 17,225 shares of the shipping service provider’s stock valued at $4,714,000 after purchasing an additional 7,011 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $279.46 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market cap of $68.28 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.17 and a beta of 1.18. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock’s 50 day simple moving average is $279.93 and its two-hundred day simple moving average is $280.38.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the company earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts anticipate 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 annualized dividend and a yield of 1.98%. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Ratings Changes

FDX has been the topic of several recent research reports. TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. UBS Group cut their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.68.

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.