Los Angeles Capital Management LLC Has $9.10 Million Stock Position in FedEx Co. (NYSE:FDX)

Los Angeles Capital Management LLC increased its position in FedEx Co. (NYSE:FDX - Free Report) by 113.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,242 shares of the shipping service provider's stock after purchasing an additional 17,651 shares during the quarter. Los Angeles Capital Management LLC's holdings in FedEx were worth $9,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Czech National Bank grew its holdings in shares of FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock worth $12,564,000 after acquiring an additional 2,767 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in FedEx during the second quarter worth about $9,226,000. Raymond James & Associates boosted its stake in FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider's stock valued at $132,926,000 after purchasing an additional 31,241 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of FedEx in 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 Stock Down 0.7 %

FDX stock traded down $2.00 during midday trading on Tuesday, hitting $287.79. The company's stock had a trading volume of 611,840 shares, compared to its average volume of 1,806,471. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The firm has a market capitalization of $70.31 billion, a P/E ratio of 17.73, a PEG ratio of 1.15 and a beta of 1.17. The firm has a 50-day simple moving average of $275.18 and a 200-day simple moving average of $275.69.

FedEx (NYSE:FDX - Get Free Report) last announced 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). 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%. FedEx's revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.55 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, September 9th. FedEx's dividend payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on FedEx from $359.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, September 20th. Robert W. Baird reduced their price objective on shares of FedEx from $340.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group dropped their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Stifel Nicolaus lowered their price target on shares of FedEx from $327.00 to $321.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Finally, Stephens reissued an "overweight" rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $315.42.

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.