26,627 Shares in FedEx Co. (NYSE:FDX) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH acquired a new stake in FedEx Co. (NYSE:FDX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,627 shares of the shipping service provider's stock, valued at approximately $7,177,000.

A number of other large investors have also recently made changes to their positions in FDX. GAMMA Investing LLC boosted its position in shares of FedEx by 45.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,897 shares of the shipping service provider's stock valued at $569,000 after purchasing an additional 593 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in FedEx during the 2nd quarter worth approximately $197,000. Douglas Lane & Associates LLC lifted its position in FedEx by 2.8% during the 2nd quarter. Douglas Lane & Associates LLC now owns 8,910 shares of the shipping service provider's stock worth $2,672,000 after acquiring an additional 245 shares during the period. Mather Group LLC. lifted its position in FedEx by 9.7% during the 2nd quarter. Mather Group LLC. now owns 6,263 shares of the shipping service provider's stock worth $1,815,000 after acquiring an additional 554 shares during the period. Finally, Trust Co. of Vermont lifted its position in FedEx by 3.9% during the 2nd quarter. Trust Co. of Vermont now owns 2,806 shares of the shipping service provider's stock worth $841,000 after acquiring an additional 105 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of recent research reports. TD Cowen decreased 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. Susquehanna reduced their price target on FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a report on Friday, September 20th. JPMorgan Chase & Co. reduced their price target on FedEx from $359.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, September 20th. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus dropped their price objective on FedEx from $327.00 to $321.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Two 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $316.04.

FedEx Stock Down 1.9 %

FDX traded down $5.74 on Monday, reaching $296.93. The company's stock had a trading volume of 477,033 shares, compared to its average volume of 1,787,991. The stock has a market cap of $72.55 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. 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 current ratio of 1.28 and a quick ratio of 1.24. The business's 50 day moving average is $277.83 and its 200 day moving average is $279.12.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts' consensus estimates 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 period in the prior year, the company posted $4.55 EPS. The company's revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, December 9th. FedEx's payout ratio is currently 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.