CreativeOne Wealth LLC Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

CreativeOne Wealth LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 75.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,047 shares of the shipping service provider’s stock after selling 6,270 shares during the period. CreativeOne Wealth LLC’s holdings in FedEx were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its holdings in 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 buying an additional 34 shares during the period. LRI Investments LLC grew its position in shares of FedEx by 8.6% in 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 raised its stake 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 purchasing an additional 36 shares during the period. Detalus Advisors LLC lifted its holdings in FedEx by 2.4% during 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 boosted its stake 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 period. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $302.67 on Monday. The company has a market capitalization of $73.95 billion, a P/E ratio of 18.67, a PEG ratio of 1.26 and a beta of 1.17. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a 50 day moving average price of $277.83 and a two-hundred day moving average price of $279.12.

FedEx (NYSE:FDX) last posted its quarterly 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the company earned $4.55 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx’s dividend payout ratio is presently 34.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FDX. Susquehanna lowered their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Loop Capital lowered their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Stephens reaffirmed an “overweight” rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Stifel Nicolaus lowered their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

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.