Highline Wealth Partners LLC bought a new stake in FedEx Co. (NYSE:FDX – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 114 shares of the shipping service provider’s stock, valued at approximately $31,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of FedEx during the first quarter worth $1,667,000. Allegheny Financial Group LTD purchased a new stake in shares of FedEx during the first quarter worth $203,000. Hilltop National Bank purchased a new stake in shares of FedEx during the first quarter worth $476,000. Csenge Advisory Group increased its position in shares of FedEx by 14.9% during the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after acquiring an additional 298 shares during the period. Finally, Czech National Bank increased its position in shares of FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after acquiring an additional 2,767 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. TD Cowen cut their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Stephens reiterated an “overweight” rating and set a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Citigroup initiated coverage on shares of FedEx in a research note on Wednesday, October 9th. They set a “buy” rating and a $301.00 target price for the company. Finally, Susquehanna lowered their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $314.17.
FedEx Trading Down 0.3 %
NYSE FDX opened at $274.30 on Thursday. The stock has a market capitalization of $67.02 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.08 and a beta of 1.17. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The firm has a 50-day moving average price of $277.96 and a 200 day moving average price of $274.91. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $4.55 earnings per share. Equities research analysts expect that FedEx Co. will post 19.59 EPS for the current year.
FedEx Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s dividend payout ratio is currently 34.05%.
About FedEx
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.
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