Mawer Investment Management Ltd. decreased its stake in FedEx Co. (NYSE:FDX - Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,231,764 shares of the shipping service provider's stock after selling 11,006 shares during the period. FedEx accounts for 2.8% of Mawer Investment Management Ltd.'s investment portfolio, making the stock its 11th largest holding. Mawer Investment Management Ltd. owned about 0.91% of FedEx worth $610,789,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Evermay Wealth Management LLC boosted its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management raised its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in FedEx during the 3rd quarter worth approximately $47,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Raymond James dropped their target price on FedEx from $335.00 to $330.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 20th. Bernstein Bank raised their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. UBS Group cut their price target on shares of FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a report on Friday, September 20th. Finally, Barclays raised their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Two investment 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $316.04.
Check Out Our Latest Stock Report on FDX
FedEx Stock Performance
Shares of NYSE:FDX traded up $0.75 during trading on Monday, hitting $295.21. 1,459,986 shares of the company traded hands, compared to its average volume of 1,804,359. The stock has a market capitalization of $72.13 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. 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 business's fifty day moving average is $275.40 and its 200-day moving average is $276.48.
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 (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm 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 business's revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $4.55 EPS. As a group, equities analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.
FedEx Announces Dividend
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's dividend payout ratio is currently 34.05%.
FedEx Company 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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