Commonwealth Financial Services LLC Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

Commonwealth Financial Services LLC cut its stake in shares of FedEx Co. (NYSE:FDX) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 918 shares of the shipping service provider’s stock after selling 64 shares during the period. Commonwealth Financial Services LLC’s holdings in FedEx were worth $271,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FDX. Precision Wealth Strategies LLC purchased a new position in shares of FedEx in the 4th quarter worth about $324,000. Quest Partners LLC purchased a new position in FedEx in the fourth quarter valued at approximately $267,000. Franklin Resources Inc. lifted its position in FedEx by 38.6% during the fourth quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock valued at $38,934,000 after buying an additional 42,844 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in FedEx by 3.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 60,413 shares of the shipping service provider’s stock worth $15,283,000 after buying an additional 2,051 shares during the period. Finally, Commerce Bank increased its position in shares of FedEx by 8.4% in the fourth quarter. Commerce Bank now owns 21,512 shares of the shipping service provider’s stock worth $5,442,000 after acquiring an additional 1,670 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX opened at $254.64 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The firm has a fifty day moving average of $292.43 and a 200-day moving average of $275.22. The company has a market cap of $62.66 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 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 return on equity of 16.70% and a net margin of 4.94%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $4.55 EPS. As a group, equities analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Analyst Ratings Changes

FDX has been the topic of several recent research reports. UBS Group reduced their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday. Stephens reissued an “overweight” rating and set a $350.00 price target on shares of FedEx in a research report on Friday. Robert W. Baird decreased their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a research note on Friday. Finally, StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.95.

Insiders Place Their Bets

In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the transaction, the executive vice president now owns 59,884 shares in the company, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,944 shares of company stock worth $9,882,355. 8.73% of the stock is owned by company insiders.

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.