FMR LLC reduced its position in FedEx Co. (NYSE:FDX - Free Report) by 16.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,786,062 shares of the shipping service provider's stock after selling 919,375 shares during the period. FMR LLC owned about 1.96% of FedEx worth $1,309,849,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the 3rd quarter worth $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock worth $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on FDX shares. Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. The Goldman Sachs Group decreased their target price on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Daiwa America lowered shares of FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. Raymond James decreased their price objective on shares of FedEx from $335.00 to $330.00 and set a "buy" rating for the company in a report on Friday, September 20th. Finally, Barclays lifted their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus target price of $316.04.
Check Out Our Latest Research Report on FDX
FedEx Price Performance
Shares of NYSE:FDX traded up $0.43 during midday trading on Wednesday, reaching $303.41. 919,390 shares of the company's stock were exchanged, compared to its average volume of 1,798,639. The firm has a market capitalization of $74.13 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. The company's 50 day simple moving average is $276.80 and its two-hundred day simple moving average is $278.42. FedEx Co. has a 12 month low of $234.45 and a 12 month 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.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 net margin of 4.62% and a return on equity of 15.61%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.55 earnings per share. Equities research analysts expect 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. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. FedEx's dividend payout ratio is presently 34.05%.
FedEx Profile
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Free Report)
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.
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