Public Sector Pension Investment Board decreased its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 38.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,106 shares of the shipping service provider's stock after selling 119,030 shares during the period. Public Sector Pension Investment Board owned approximately 0.08% of FedEx worth $51,481,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Evermay Wealth Management LLC raised its position in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx in the 3rd quarter valued at about $31,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx in the second quarter valued at about $39,000. Abound Wealth Management boosted its holdings in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock worth $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in FedEx during the third quarter worth about $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Stephens reiterated an "overweight" rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Hsbc Global Res cut FedEx from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. Barclays boosted their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Finally, UBS Group cut their target price on shares of FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a research report on Friday, September 20th. Two investment 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $316.04.
Read Our Latest Report on FDX
FedEx Trading Up 0.1 %
Shares of FDX stock traded up $0.41 on Thursday, reaching $303.39. 919,462 shares of the stock were exchanged, compared to its average volume of 1,798,639. 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 stock has a market cap of $74.13 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. The firm has a 50 day moving average of $276.80 and a two-hundred day moving average of $278.42. FedEx Co. has a 1-year low of $234.45 and a 1-year 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 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 return on equity of 15.61% and a net margin of 4.62%. The business's revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.55 earnings per share. On average, research analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.
FedEx Dividend Announcement
The firm 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 dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx's dividend payout ratio (DPR) is 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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