Bridgewater Associates LP Purchases 6,994 Shares of FedEx Co. (NYSE:FDX)

Bridgewater Associates LP lifted its stake in FedEx Co. (NYSE:FDX - Free Report) by 38.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,022 shares of the shipping service provider's stock after acquiring an additional 6,994 shares during the period. Bridgewater Associates LP's holdings in FedEx were worth $6,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Czech National Bank boosted its stake in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock valued at $12,564,000 after purchasing an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC bought a new position in FedEx during the second quarter valued at about $9,226,000. Raymond James & Associates boosted its stake in FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider's stock valued at $132,926,000 after buying an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in FedEx during the second quarter worth about $22,052,000. Finally, Versor Investments LP acquired a new stake in FedEx in the 3rd quarter valued at about $2,096,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Down 0.2 %

Shares of NYSE FDX traded down $0.72 during trading hours on Friday, hitting $302.67. The stock had a trading volume of 665,504 shares, compared to its average volume of 1,793,733. The firm's 50-day moving average price is $277.83 and its two-hundred day moving average price is $278.98. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a market capitalization of $73.95 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.27 and a beta of 1.17. 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 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 return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the firm earned $4.55 earnings per share. The business's revenue was down .5% on a year-over-year basis. Analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. FedEx's dividend payout ratio (DPR) is presently 34.05%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FDX. Hsbc Global Res cut shares of FedEx from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 20th. Stifel Nicolaus decreased their price target on shares of FedEx from $327.00 to $321.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. TD Cowen cut their price objective on FedEx from $334.00 to $328.00 and set a "buy" rating for the company in a research report on Friday, September 20th. Morgan Stanley cut FedEx from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Robert W. Baird reduced their target price on FedEx from $340.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $316.04.

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.