Kovack Advisors Inc. Has $1.16 Million Holdings in FedEx Co. (NYSE:FDX)

Kovack Advisors Inc. increased its stake in FedEx Co. (NYSE:FDX - Free Report) by 186.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,222 shares of the shipping service provider's stock after acquiring an additional 2,748 shares during the quarter. Kovack Advisors Inc.'s holdings in FedEx were worth $1,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Czech National Bank grew its position in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock worth $12,564,000 after purchasing an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of FedEx during the second quarter valued at $9,226,000. Raymond James & Associates raised its position in FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider's stock valued at $132,926,000 after buying an additional 31,241 shares during the period. Manning & Napier Advisors LLC purchased a new stake in FedEx in the 2nd quarter worth about $22,052,000. Finally, Versor Investments LP acquired a new stake in FedEx during the 3rd quarter worth about $2,096,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Up 0.1 %

Shares of NYSE FDX traded up $0.39 during midday trading on Thursday, reaching $292.28. 1,248,281 shares of the stock were exchanged, compared to its average volume of 1,807,263. The business has a 50-day simple moving average of $275.04 and a two-hundred day simple moving average of $275.95. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market capitalization of $71.41 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.15 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.55 EPS. As a group, equities research analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, September 9th. FedEx's payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research reports. Robert W. Baird decreased their price target on shares of FedEx from $340.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, September 20th. StockNews.com raised shares of FedEx from a "hold" rating to a "buy" rating in a research note on Wednesday. Barclays boosted their target price on FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Wednesday. TD Cowen cut their target price on shares of FedEx from $334.00 to $328.00 and set a "buy" rating for the company in a research report on Friday, September 20th. Finally, Hsbc Global Res cut FedEx from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus target price of $316.04.

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.