FedEx Co. (NYSE:FDX) Shares Acquired by Accent Capital Management LLC

Accent Capital Management LLC raised its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 608.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,152 shares of the shipping service provider's stock after purchasing an additional 7,002 shares during the quarter. FedEx accounts for approximately 1.3% of Accent Capital Management LLC's portfolio, making the stock its 15th largest position. Accent Capital Management LLC's holdings in FedEx were worth $2,242,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nicolet Advisory Services LLC purchased a new position in shares of FedEx during the 1st quarter valued at $204,000. Covestor Ltd grew its stake in FedEx by 50.0% in the 1st quarter. Covestor Ltd now owns 789 shares of the shipping service provider's stock valued at $229,000 after buying an additional 263 shares in the last quarter. Rockport Wealth LLC bought a new stake in FedEx during the 1st quarter valued at $476,000. O Shaughnessy Asset Management LLC lifted its position in shares of FedEx by 0.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 33,838 shares of the shipping service provider's stock worth $9,804,000 after acquiring an additional 241 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of FedEx in the first quarter worth $220,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

FDX has been the subject of several analyst reports. Stephens restated an "overweight" rating and issued a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. BMO Capital Markets decreased their target price on shares of FedEx from $325.00 to $300.00 and set a "market perform" rating on the stock in a report on Friday, September 20th. Citigroup raised their price target on shares of FedEx from $301.00 to $331.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Robert W. Baird dropped their price objective on FedEx from $340.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. Finally, Hsbc Global Res downgraded FedEx from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $316.04.

FedEx Price Performance

FDX stock traded up $2.17 during midday trading on Friday, reaching $294.46. The stock had a trading volume of 1,506,570 shares, compared to its average volume of 1,346,451. The company has a market cap of $71.94 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. The company's fifty day simple moving average is $275.40 and its 200 day simple moving average is $276.37. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the business earned $4.55 earnings per share. The firm's revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. FedEx's payout ratio is currently 34.05%.

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.