201,246 FedEx Corporation $FDX Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC cut its holdings in shares of FedEx Corporation (NYSE:FDX) by 98.4% in the third quarter, Holdings Channel reports. The institutional investor owned 3,354 shares of the shipping service provider’s stock after selling 201,246 shares during the quarter. Curated Wealth Partners LLC’s holdings in FedEx were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of FedEx in the first quarter worth $25,000. Bayban bought a new position in FedEx during the first quarter worth $26,000. Solstein Capital LLC bought a new position in FedEx during the second quarter worth $27,000. C M Bidwell & Associates Ltd. acquired a new position in FedEx during the 2nd quarter valued at $31,000. Finally, Cedar Mountain Advisors LLC raised its stake in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on FDX shares. TD Cowen reduced their price target on shares of FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Stifel Nicolaus dropped their price objective on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Citigroup restated a “cautious” rating on shares of FedEx in a report on Wednesday, October 7th. UBS Group cut their price objective on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Sanford C. Bernstein set a $397.00 price objective on shares of FedEx in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $354.64.

FedEx Price Performance

Shares of NYSE:FDX opened at $295.57 on Friday. FedEx Corporation has a 1-year low of $186.40 and a 1-year high of $345.36. The firm has a market capitalization of $69.95 billion, a PE ratio of 14.41, a PEG ratio of 1.55 and a beta of 1.28. The business’s 50 day moving average is $309.94 and its 200-day moving average is $334.45. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Sell-side analysts predict that FedEx Corporation will post 17.53 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s dividend payout ratio (DPR) is 26.36%.

FedEx Company Profile

FedEx Corporation 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, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.