Circle Wealth Management LLC Cuts Position in FedEx Co. (NYSE:FDX)

Circle Wealth Management LLC lessened its position in shares of FedEx Co. (NYSE:FDX) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,814 shares of the shipping service provider’s stock after selling 341 shares during the quarter. Circle Wealth Management LLC’s holdings in FedEx were worth $1,044,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its holdings in FedEx by 117.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,974 shares of the shipping service provider’s stock valued at $21,343,000 after buying an additional 42,034 shares in the last quarter. Northwest & Ethical Investments L.P. grew its holdings in FedEx by 11.3% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 21,778 shares of the shipping service provider’s stock valued at $5,960,000 after buying an additional 2,214 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in FedEx by 139.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 10,033 shares of the shipping service provider’s stock valued at $2,684,000 after buying an additional 5,836 shares in the last quarter. Fiduciary Trust Co grew its holdings in FedEx by 45.6% during the 3rd quarter. Fiduciary Trust Co now owns 3,294 shares of the shipping service provider’s stock valued at $902,000 after buying an additional 1,031 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in FedEx by 27.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,433 shares of the shipping service provider’s stock valued at $33,234,000 after buying an additional 26,260 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.2 %

Shares of FDX stock opened at $302.74 on Friday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The stock’s fifty day moving average price is $277.83 and its 200 day moving average price is $278.84. 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 $73.97 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17.

FedEx (NYSE:FDX) last announced 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 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 last year, the firm earned $4.55 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Ratings Changes

FDX has been the subject of several research analyst reports. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. Evercore ISI lowered their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Susquehanna lowered their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Finally, Bank of America lowered their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $316.04.

About FedEx

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.