Glenmede Trust Co. NA increased its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,847 shares of the shipping service provider's stock after purchasing an additional 2,064 shares during the period. Glenmede Trust Co. NA's holdings in FedEx were worth $15,558,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in FedEx by 473.8% during the third 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 in the last quarter. Ameriprise Financial Inc. lifted its holdings 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 acquiring an additional 578,350 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider's stock worth $101,022,000 after acquiring an additional 161,022 shares in the last quarter. Empyrean Capital Partners LP bought a new position in FedEx during the second quarter worth about $46,475,000. Finally, Interval Partners LP lifted its holdings in FedEx by 408.3% during the second quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider's stock worth $57,296,000 after acquiring an additional 153,497 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.
FedEx Stock Performance
Shares of FedEx stock traded down $0.65 on Friday, hitting $302.74. The stock had a trading volume of 665,498 shares, compared to its average volume of 1,793,733. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The business's 50 day moving average is $276.86 and its two-hundred day moving average is $278.60. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market cap of $73.97 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17.
FedEx (NYSE:FDX - Get Free Report) last posted its 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the company posted $4.55 EPS. FedEx's revenue for the quarter was down .5% compared to the same quarter last year. Analysts forecast that FedEx Co. will post 19.59 EPS for the current year.
FedEx Announces Dividend
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 given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's payout ratio is 34.05%.
Analyst Ratings Changes
FDX has been the topic of several recent analyst reports. StockNews.com upgraded FedEx from a "hold" rating to a "buy" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on FedEx from $359.00 to $350.00 and set an "overweight" rating on the stock in a report on Friday, September 20th. Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Morgan Stanley lowered FedEx from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a report on Friday, September 20th. Two 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. According to data from MarketBeat, FedEx currently has an average rating of "Moderate Buy" and an average target price of $316.04.
Check Out Our Latest Report on FDX
About FedEx
(
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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