Empowered Funds LLC Acquires 4,121 Shares of FedEx Co. (NYSE:FDX)

Empowered Funds LLC grew its position in FedEx Co. (NYSE:FDX - Free Report) by 85.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,944 shares of the shipping service provider's stock after purchasing an additional 4,121 shares during the period. Empowered Funds LLC's holdings in FedEx were worth $2,448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC increased its position in FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider's stock valued at $1,683,000 after acquiring an additional 34 shares in the last quarter. LRI Investments LLC increased its position in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider's stock valued at $137,000 after acquiring an additional 36 shares in the last quarter. Ascent Wealth Partners LLC increased its position in FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider's stock valued at $2,306,000 after acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC increased its position in FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider's stock valued at $480,000 after acquiring an additional 37 shares in the last quarter. Finally, Sachetta LLC increased its position in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

NYSE:FDX traded down $5.01 during mid-day trading on Wednesday, reaching $288.05. 285,124 shares of the company's stock were exchanged, compared to its average volume of 1,796,141. FedEx Co. has a one year low of $234.45 and a one 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. The business's fifty day simple moving average is $275.82 and its two-hundred day simple moving average is $276.94. The firm has a market capitalization of $70.38 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.55 EPS. Analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.92%. The ex-dividend date is Monday, December 9th. FedEx's dividend payout ratio is currently 34.05%.

Wall Street Analyst Weigh In

FDX has been the subject of several analyst reports. Loop Capital lowered their price target on shares of FedEx from $317.00 to $288.00 and set a "hold" rating for the company in a research report on Monday, September 23rd. Hsbc Global Res cut shares of FedEx from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. The Goldman Sachs Group reduced their price objective on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Citigroup lifted their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus reduced their price objective on shares of FedEx from $327.00 to $321.00 and set a "buy" rating on the stock in a research note on Friday, September 20th. Two equities 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $316.04.

FedEx 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.