FedEx Co. (NYSE:FDX) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its stake in FedEx Co. (NYSE:FDX - Free Report) by 989.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,349 shares of the shipping service provider's stock after buying an additional 21,205 shares during the quarter. Benjamin Edwards Inc.'s holdings in FedEx were worth $6,391,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FDX. Evermay Wealth Management LLC lifted its position in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in FedEx in the third quarter valued at approximately $31,000. Central Valley Advisors LLC acquired a new stake in FedEx in the second quarter valued at approximately $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Finally, Sachetta LLC increased its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent analyst reports. Barclays increased their price target on shares of FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Robert W. Baird dropped their price target on shares of FedEx from $340.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Raymond James lowered their target price on shares of FedEx from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Sanford C. Bernstein lowered shares of FedEx from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $337.00 to $316.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of FedEx from $350.00 to $366.00 and gave the stock an "overweight" rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and an average target price of $316.68.

FedEx Price Performance

FedEx stock traded up $0.47 during midday trading on Wednesday, reaching $283.32. 1,839,257 shares of the company were exchanged, compared to its average volume of 1,796,578. The company has a market capitalization of $69.22 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.24 and a beta of 1.18. The firm's 50-day simple moving average is $279.29 and its 200-day simple moving average is $279.60. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $21.87 billion. During the same quarter last year, the firm earned $4.55 EPS. The firm's quarterly revenue was down .5% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, December 9th. FedEx's dividend payout ratio is presently 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.