MWA Asset Management Takes Position in FedEx Co. (NYSE:FDX)

MWA Asset Management bought a new stake in shares of FedEx Co. (NYSE:FDX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,406 shares of the shipping service provider's stock, valued at approximately $658,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Seven Eight Capital LP purchased a new stake in shares of FedEx in the 1st quarter worth about $220,000. Bessemer Group Inc. lifted its holdings in FedEx by 81.4% during the first quarter. Bessemer Group Inc. now owns 17,317 shares of the shipping service provider's stock valued at $5,017,000 after purchasing an additional 7,773 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of FedEx by 41.3% in the first quarter. Lake Street Advisors Group LLC now owns 2,282 shares of the shipping service provider's stock worth $664,000 after buying an additional 667 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of FedEx in the first quarter worth $229,000. Finally, Shell Asset Management Co. lifted its holdings in shares of FedEx by 26.6% in the first quarter. Shell Asset Management Co. now owns 12,014 shares of the shipping service provider's stock worth $3,481,000 after buying an additional 2,527 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Susquehanna decreased their price target on shares of FedEx from $345.00 to $330.00 and set a "positive" rating on the stock in a research note on Friday, September 20th. Raymond James lowered their price objective on shares of FedEx from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 20th. Finally, BMO Capital Markets lowered their price objective on shares of FedEx from $325.00 to $300.00 and set a "market perform" rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $316.04.

FedEx Stock Down 2.2 %

FDX stock traded down $6.54 during midday trading on Wednesday, reaching $286.52. 493,233 shares of the company were exchanged, compared to its average volume of 1,797,066. 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 Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The stock's 50-day simple moving average is $275.82 and its 200 day simple moving average is $276.94. The company has a market cap of $70.00 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.23 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 earnings per share (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 prior year, the firm posted $4.55 earnings per share. The business's quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm 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 dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, December 9th. FedEx's dividend payout ratio (DPR) is currently 34.05%.

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.