Arjuna Capital Invests $1.57 Million in FedEx Co. (NYSE:FDX)

Arjuna Capital acquired a new position in shares of FedEx Co. (NYSE:FDX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,740 shares of the shipping service provider's stock, valued at approximately $1,571,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Czech National Bank lifted its position in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock valued at $12,564,000 after acquiring an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of FedEx during the 2nd quarter worth approximately $9,226,000. Raymond James & Associates lifted its position in shares of FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider's stock worth $132,926,000 after buying an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of FedEx during the 2nd quarter worth approximately $22,052,000. Finally, Philip James Wealth Mangement LLC bought a new position in shares of FedEx during the 3rd quarter worth approximately $6,905,000. Institutional investors own 84.47% of the company's stock.

FedEx Price Performance

Shares of FDX stock traded up $4.81 on Wednesday, hitting $292.08. 1,896,851 shares of the stock traded hands, compared to its average volume of 1,809,805. The firm has a market cap of $71.36 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.15 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 simple moving average of $275.05 and a two-hundred day simple moving average of $275.84. 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 - Get Free Report) last announced its quarterly 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). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business's revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.55 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.89%. FedEx's dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research analyst reports. Bank of America decreased their price target on shares of FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Loop Capital decreased their price target on shares of FedEx from $317.00 to $288.00 and set a "hold" rating for the company in a research note on Monday, September 23rd. BMO Capital Markets decreased their price target on shares of FedEx from $325.00 to $300.00 and set a "market perform" rating for the company in a research note on Friday, September 20th. Barclays raised their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, TD Cowen reduced their price objective on shares of FedEx from $334.00 to $328.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $316.04.

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.