FedEx Co. (FDX) Stake Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,000 shares of the shipping service provider’s stock after selling 400 shares during the period. Hennessy Advisors Inc.’s holdings in FedEx were worth $2,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vigilant Capital Management LLC bought a new stake in FedEx during the 2nd quarter worth $114,000. Moneta Group Investment Advisors LLC grew its position in FedEx by 14,117.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock worth $114,000 after acquiring an additional 63,386 shares during the last quarter. Fortis Advisors LLC grew its position in FedEx by 278.2% during the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock worth $115,000 after acquiring an additional 370 shares during the last quarter. Lenox Wealth Advisors LLC bought a new stake in FedEx during the 3rd quarter worth $120,000. Finally, Qube Research & Technologies Ltd bought a new stake in FedEx during the 2nd quarter worth $129,000. Institutional investors own 72.77% of the company’s stock.

A number of brokerages recently weighed in on FDX. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. UBS Group lowered FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective on the stock. in a research report on Monday, July 16th. JPMorgan Chase & Co. restated a “buy” rating and set a $305.00 price objective on shares of FedEx in a research report on Tuesday, September 18th. Morgan Stanley restated a “hold” rating and set a $242.00 price objective (down previously from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. Finally, Credit Suisse Group set a $307.00 price objective on FedEx and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $285.27.

NYSE FDX opened at $221.00 on Friday. FedEx Co. has a 12 month low of $214.17 and a 12 month high of $274.66. The stock has a market capitalization of $63.45 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32.

FedEx (NYSE:FDX) last released its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.32). FedEx had a net margin of 7.16% and a return on equity of 23.71%. The company had revenue of $17.05 billion during the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter last year, the firm posted $2.65 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts expect that FedEx Co. will post 17.36 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, September 7th. FedEx’s dividend payout ratio is 16.98%.

In other news, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the transaction, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by insiders.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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