Allspring Global Investments Holdings LLC Has $8.31 Million Holdings in FedEx Co. (NYSE:FDX)

Allspring Global Investments Holdings LLC trimmed its stake in FedEx Co. (NYSE:FDX) by 58.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,379 shares of the shipping service provider’s stock after selling 42,971 shares during the period. Allspring Global Investments Holdings LLC’s holdings in FedEx were worth $8,314,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Vest Financial LLC bought a new position in shares of FedEx during the third quarter worth about $336,000. Buckley Wealth Management LLC raised its holdings in FedEx by 1.0% during the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock worth $1,088,000 after purchasing an additional 40 shares during the last quarter. OLD National Bancorp IN lifted its position in shares of FedEx by 2.1% in the 3rd quarter. OLD National Bancorp IN now owns 3,930 shares of the shipping service provider’s stock worth $1,076,000 after purchasing an additional 80 shares during the period. Pure Portfolios Holdings LLC bought a new stake in shares of FedEx in the 3rd quarter valued at $254,000. Finally, Raymond James & Associates increased its position in shares of FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after buying an additional 31,241 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $272.12 on Friday. 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 firm has a 50-day moving average of $278.83 and a 200-day moving average of $274.82. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The company has a market cap of $66.48 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.08 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 for 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 quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.55 EPS. Equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is presently 34.05%.

Analyst Ratings Changes

A number of analysts have commented on FDX shares. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Raymond James dropped their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $314.17.

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.