FedEx Corporation $FDX Stock: Curated Wealth Partners LLC Reduces Holdings

Key Points

• Curated Wealth Partners LLC cut its FedEx stake by 98.4% in the third quarter, selling 201,246 shares and retaining 3,354 shares valued at approximately $956,000.
• Other institutional investors showed mixed activity, while institutions overall owned 84.47% of FedEx’s outstanding stock.
• FedEx reported quarterly EPS of $5.88 on $23.26 billion in revenue and maintains a quarterly dividend of $1.22, or $4.88 annualized. Analysts hold a consensus “Moderate Buy” rating with an average price target of $354.64.

Curated Wealth Partners LLC lessened its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 98.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,354 shares of the shipping service provider's stock after selling 201,246 shares during the quarter. Curated Wealth Partners LLC's holdings in FedEx were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDX. Nvwm LLC increased its position in FedEx by 2,528.6% during the third quarter. Nvwm LLC now owns 184 shares of the shipping service provider's stock worth $52,000 after buying an additional 177 shares during the last quarter. Strategy Asset Managers LLC bought a new position in FedEx during the third quarter valued at about $750,000. Western Financial Corp CA raised its holdings in FedEx by 22.6% during the third quarter. Western Financial Corp CA now owns 2,288 shares of the shipping service provider's stock valued at $652,000 after buying an additional 422 shares in the last quarter. Sanders Morris Harris LLC bought a new position in FedEx during the third quarter valued at about $1,215,000. Finally, First Citizens Bank & Trust Co. lifted its position in shares of FedEx by 14.8% in the third quarter. First Citizens Bank & Trust Co. now owns 8,162 shares of the shipping service provider's stock worth $2,327,000 after buying an additional 1,051 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

NYSE:FDX opened at $295.57 on Friday. FedEx Corporation has a 1 year low of $186.40 and a 1 year high of $345.36. The firm's fifty day simple moving average is $309.94 and its 200 day simple moving average is $334.45. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $69.95 billion, a PE ratio of 14.41, a PEG ratio of 1.55 and a beta of 1.28.

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. The firm had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, sell-side analysts anticipate that FedEx Corporation will post 17.53 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were given a $1.22 dividend. This represents a $4.88 annualized dividend 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 currently 26.36%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FDX. BNP Paribas Exane upped their price target on FedEx from $269.80 to $300.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 30th. Citigroup reissued a "cautious" rating on shares of FedEx in a report on Wednesday, October 7th. Bank of America reissued a "buy" rating and issued a $140.00 price objective on shares of FedEx in a research note on Tuesday, September 29th. BMO Capital Markets reissued a "market perform" rating on shares of FedEx in a research note on Wednesday, June 24th. Finally, UBS Group reduced their target price on FedEx from $445.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $354.64.

About FedEx

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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