Woodmont Investment Counsel LLC Sells 183 Shares of FedEx Co. (NYSE:FDX)

by · The Markets Daily

Woodmont Investment Counsel LLC trimmed its holdings in FedEx Co. (NYSE:FDX – Free Report) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,460 shares of the shipping service provider’s stock after selling 183 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in FedEx were worth $673,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SeaCrest Wealth Management LLC boosted its holdings in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC boosted its stake in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC raised its stake 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 valued at $480,000 after acquiring an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 1.2 %

FDX opened at $283.30 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The firm has a market cap of $69.22 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.09 and a beta of 1.17. The firm’s 50-day simple moving average is $275.86 and its 200-day simple moving average is $275.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 EPS. Equities research analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is presently 34.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets dropped their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. StockNews.com lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Friday, September 20th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Citigroup assumed coverage on FedEx in a report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $314.17.

View Our Latest Analysis on FDX

About FedEx

(Free Report)

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.

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