Northwest & Ethical Investments L.P. grew its holdings in FedEx Co. (NYSE:FDX - Free Report) by 11.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 21,778 shares of the shipping service provider's stock after buying an additional 2,214 shares during the period. Northwest & Ethical Investments L.P.'s holdings in FedEx were worth $5,960,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of FDX. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% in the 3rd 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 acquired a new position in shares of FedEx during the 3rd quarter valued at about $31,000. Central Valley Advisors LLC purchased a new position in FedEx during the second quarter worth approximately $39,000. Abound Wealth Management boosted its holdings in FedEx by 175.9% in the second 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, Sachetta LLC raised its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider's stock valued at $49,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.
FedEx Trading Down 0.2 %
NYSE FDX traded down $0.65 on Friday, hitting $302.74. 665,498 shares of the stock were exchanged, compared to its average volume of 1,793,733. The company's 50-day moving average price is $277.83 and its two-hundred day moving average price is $278.84. The company has a market capitalization of $73.97 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 1.27 and a beta of 1.17. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.
FedEx (NYSE:FDX - Get Free Report) last posted its quarterly 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 return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the business posted $4.55 earnings per share. The business's revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.59 EPS for the current year.
FedEx Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.82%. FedEx's dividend payout ratio is currently 34.05%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on FDX shares. Daiwa America downgraded FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. UBS Group dropped their price target on FedEx from $333.00 to $311.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Bank of America decreased their target price on FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Stephens reaffirmed an "overweight" rating and issued a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Finally, Barclays boosted their price target on FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, FedEx has an average rating of "Moderate Buy" and an average price target of $316.04.
Check Out Our Latest Report on FedEx
FedEx Company Profile
(
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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