FedEx Corporation $FDX Stock: Radnor Capital Management LLC Trims Position

Radnor Capital Management LLC decreased its position in shares of FedEx Corporation (NYSE:FDX) by 53.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,791 shares of the shipping service provider’s stock after selling 3,160 shares during the quarter. Radnor Capital Management LLC’s holdings in FedEx were worth $796,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in FedEx by 1.2% in the 3rd quarter. Signaturefd LLC now owns 5,249 shares of the shipping service provider’s stock valued at $1,496,000 after purchasing an additional 63 shares during the period. BG Investment Services LLC bought a new position in shares of FedEx during the 3rd quarter valued at $311,000. Simplicity Wealth LLC grew its position in FedEx by 4.3% during the 3rd quarter. Simplicity Wealth LLC now owns 2,932 shares of the shipping service provider’s stock worth $836,000 after acquiring an additional 122 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of FedEx by 0.4% in the third quarter. Evergreen Capital Management LLC now owns 109,363 shares of the shipping service provider’s stock worth $31,311,000 after purchasing an additional 408 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of FedEx by 8.2% in the third quarter. Capital Investment Advisors LLC now owns 3,243 shares of the shipping service provider’s stock worth $924,000 after purchasing an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of several research reports. Citizens Jmp initiated coverage on FedEx in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 target price for the company. Raymond James Financial reissued an “outperform” rating on shares of FedEx in a report on Thursday, October 15th. Citigroup reiterated a “cautious” rating on shares of FedEx in a report on Wednesday, October 7th. Stephens raised FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Truist Financial dropped their target price on FedEx from $365.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $354.64.

FedEx Stock Down 1.7%

FedEx stock opened at $298.66 on Friday. The firm has a 50 day moving average price of $306.35 and a 200 day moving average price of $332.16. FedEx Corporation has a fifty-two week low of $190.75 and a fifty-two week high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The company has a market capitalization of $70.68 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio is 26.36%.

FedEx Profile

FedEx Corporation (NYSE: FDX) 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, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.