FedEx Co. (NYSE:FDX) Shares Bought by ING Groep NV

ING Groep NV boosted its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,041 shares of the shipping service provider's stock after purchasing an additional 2,577 shares during the quarter. ING Groep NV's holdings in FedEx were worth $9,043,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Evermay Wealth Management LLC raised its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the 3rd quarter worth about $31,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter worth about $39,000. Abound Wealth Management lifted its holdings 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 worth $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of FedEx in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

NYSE FDX traded up $2.17 on Friday, hitting $294.46. 1,506,570 shares of the company's stock traded hands, compared to its average volume of 1,805,906. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The firm's 50-day moving average price is $275.40 and its two-hundred day moving average price is $276.27. The firm has a market capitalization of $71.94 billion, a PE ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the firm posted $4.55 earnings per share. The business's revenue was down .5% on a year-over-year basis. As a group, analysts expect 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. Investors 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 1.87%. FedEx's dividend payout ratio is currently 34.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $359.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, September 20th. Evercore ISI cut their target price on shares of FedEx from $335.00 to $318.00 and set an "outperform" rating on the stock in a research report on Friday, September 20th. Raymond James cut their target price on shares of FedEx from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Bernstein Bank raised their target price on shares of FedEx from $305.00 to $337.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Finally, Stephens reissued an "overweight" rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $316.04.

FedEx 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.