FedEx Corporation $FDX Stock: CoreCap Advisors LLC Reduces Holdings

Key Points

• CoreCap Advisors LLC cut its FedEx position by 96.7% in the third quarter, selling 14,011 shares and retaining 479 shares valued at approximately $137,000.
• Institutional investors own 84.47% of FedEx, with several firms increasing stakes or initiating new positions during the first and second quarters.
• FedEx shares opened at $291.31, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $354.64; the company also pays a quarterly dividend of $1.22 per share.

CoreCap Advisors LLC decreased its position in FedEx Corporation (NYSE:FDX - Free Report) by 96.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 479 shares of the shipping service provider's stock after selling 14,011 shares during the period. CoreCap Advisors LLC's holdings in FedEx were worth $137,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. OMERS ADMINISTRATION Corp boosted its stake in FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock worth $6,169,000 after acquiring an additional 8,868 shares in the last quarter. First Nebraska Trust Co acquired a new stake in FedEx in the first quarter worth $10,675,000. NewEdge Advisors LLC grew its holdings in FedEx by 74.1% in the second quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider's stock worth $10,757,000 after purchasing an additional 14,624 shares during the period. Louisiana State Employees Retirement System bought a new stake in FedEx in the first quarter valued at $3,918,000. Finally, Archer Investment Corp bought a new stake in FedEx in the second quarter valued at $1,147,000. Institutional investors own 84.47% of the company's stock.

FedEx Price Performance

FDX opened at $291.31 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The company has a market capitalization of $68.94 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 1.55 and a beta of 1.28. The firm's fifty day moving average price is $310.36 and its two-hundred day moving average price is $334.79. FedEx Corporation has a 1 year low of $185.06 and a 1 year high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion during the quarter. As a group, analysts anticipate that FedEx Corporation will post 17.53 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, September 14th. FedEx's dividend payout ratio (DPR) is presently 26.36%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group assumed coverage on FedEx in a research report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 target price for the company. Citizens Jmp started coverage on FedEx in a research note on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 price target on the stock. BNP Paribas Exane increased their price target on FedEx from $269.80 to $300.00 and gave the stock a "neutral" rating in a report on Wednesday, September 30th. Raymond James Financial set a $330.00 price target on FedEx in a report on Friday, August 28th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of FedEx in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $354.64.

FedEx Company Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company's services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.

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