Rockefeller Capital Management L.P. Raises Stock Position in FedEx Co. (NYSE:FDX)

Rockefeller Capital Management L.P. raised its stake in FedEx Co. (NYSE:FDX - Free Report) by 117.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,974 shares of the shipping service provider's stock after buying an additional 42,034 shares during the period. Rockefeller Capital Management L.P.'s holdings in FedEx were worth $21,343,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider's stock worth $674,336,000 after buying an additional 578,350 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider's stock valued at $654,312,000 after acquiring an additional 121,240 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of FedEx by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider's stock valued at $397,267,000 after purchasing an additional 13,093 shares during the period. Sentry LLC raised its position in shares of FedEx by 0.5% in the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider's stock valued at $365,626,000 after purchasing an additional 6,657 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Performance

NYSE FDX traded down $5.89 during mid-day trading on Monday, reaching $296.78. 1,568,409 shares of the stock were exchanged, compared to its average volume of 1,792,762. 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 company has a market capitalization of $72.51 billion, a P/E ratio of 18.31, a P/E/G 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 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 posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business's quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $4.55 earnings per share. On average, equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Susquehanna decreased their target price on shares of FedEx from $345.00 to $330.00 and set a "positive" rating on the stock in a research report on Friday, September 20th. Bank of America decreased their target price on shares of FedEx from $347.00 to $345.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Citigroup raised their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus cut 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $316.04.

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.