AMG National Trust Bank reduced its investment in FedEx Co. (NYSE: FDX) by 31.1% during the third quarter, as per the latest disclosure with the Securities and Exchange Commission. The bank held 14,975 shares of the shipping service provider's stock after selling 6,745 shares during the quarter. At the end of the most recent quarter, AMG National Trust Bank's holdings in FedEx were valued at $3,967,000.
MarketBeat Week in Review – December 18th to 22nd
Several other hedge funds have also made adjustments to their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in FedEx shares by 1.1% during the third quarter, now owning 1,388,883 shares valued at $367,943,000 after acquiring an additional 15,263 shares during the period. Payden & Rygel Investment Group acquired a new position in FedEx shares during the third quarter valued at approximately $1,828,000. Soltis Investment Advisors LLC also acquired a new position in FedEx shares during the third quarter valued at about $263,000. Dorsey & Whitney Trust CO LLC increased its stake in FedEx shares by 3.2% during the third quarter, now holding 3,235 shares valued at $857,000 after purchasing an additional 100 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in FedEx shares during the third quarter valued at about $564,000. Hedge funds and other institutional investors collectively own 73.61% of the company's stock.
FedEx Stock Performance
During midday trading on Tuesday, FedEx stock rose by $3.10, reaching $241.41. 395,442 shares of the company were traded, compared to its average volume of 2,233,848. The company has a market capitalization of $60.33 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.14, and a beta of 1.20. FedEx's 50-day moving average stands at $254.78, while its two-hundred day moving average is $255.32. The stock has ranged from a 12-month low of $190.83 to a 12-month high of $285.53. FedEx has a debt-to-equity ratio of 0.75, a current ratio of 1.34, and a quick ratio of 1.30.
Leveraged for Success, FedEx Sends Shockwaves Through the Market
FedEx (NYSE: FDX) last reported its quarterly earnings data on Tuesday, December 19th. The shipping service provider posted earnings per share of $3.99 for the quarter, falling short of analysts' consensus estimates of $4.14 by $0.15. FedEx had a net margin of 4.87% and a return on equity of 16.47%. The company generated revenue of $22.17 billion for the quarter, compared to the consensus estimate of $22.36 billion. In the same quarter last year, FedEx reported earnings per share of $3.18. The company's revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts anticipate that FedEx Co. will post earnings per share of 17.76 for the current year.
FedEx Announces Dividend
Additionally, the company recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday