Main Street Financial Solutions LLC Cuts Stock Holdings in FedEx Co. (NYSE:FDX)

Main Street Financial Solutions LLC lowered its stake in FedEx Co. (NYSE:FDX) by 9.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,405 shares of the shipping service provider’s stock after selling 148 shares during the period. Main Street Financial Solutions LLC’s holdings in FedEx were worth $385,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx in the 3rd quarter worth about $31,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management increased its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in FedEx in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $292.28 on Friday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a market capitalization of $71.41 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.15 and a beta of 1.17. The company’s 50-day simple moving average is $275.04 and its two-hundred day simple moving average is $275.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last issued its earnings results 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 earnings per share. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on FDX shares. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. BMO Capital Markets lowered their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Loop Capital reduced their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Stifel Nicolaus lowered their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Company Profile

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.