Chesley Taft & Associates LLC Lowers Position in FedEx Co. (NYSE:FDX)

Chesley Taft & Associates LLC trimmed its position in FedEx Co. (NYSE:FDX) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,061 shares of the shipping service provider’s stock after selling 73 shares during the period. Chesley Taft & Associates LLC’s holdings in FedEx were worth $564,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FDX. SeaCrest Wealth Management LLC increased its stake in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares in the last quarter. LRI Investments LLC increased its stake in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC boosted its position in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC increased its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.3 %

FDX opened at $261.28 on Wednesday. The firm’s 50 day simple moving average is $283.84 and its two-hundred day simple moving average is $276.02. The company has a market capitalization of $64.30 billion, a PE ratio of 15.16, a PEG ratio of 1.04 and a beta of 1.17. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. 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 (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company 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 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.55 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 19.66 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FDX shares. Wells Fargo & Company increased their target price on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. StockNews.com lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Sunday. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. Finally, Argus boosted their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.74.

Insiders Place Their Bets

In other news, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the completion of the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares in the company, valued at approximately $3,797,974.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,914 shares of company stock worth $3,978,338. Company insiders own 8.73% of the company’s stock.

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.