Sumitomo Mitsui Trust Group Inc. grew its stake in FedEx Co. (NYSE:FDX - Free Report) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 557,507 shares of the shipping service provider's stock after purchasing an additional 3,126 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of FedEx worth $152,579,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Atomi Financial Group Inc. bought a new stake in FedEx during the 1st quarter valued at $245,000. ProShare Advisors LLC increased its position in shares of FedEx by 16.8% in the first quarter. ProShare Advisors LLC now owns 35,979 shares of the shipping service provider's stock worth $10,425,000 after purchasing an additional 5,186 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in FedEx by 13.2% during the first quarter. Koshinski Asset Management Inc. now owns 1,548 shares of the shipping service provider's stock worth $448,000 after purchasing an additional 180 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of FedEx by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,755 shares of the shipping service provider's stock valued at $74,682,000 after purchasing an additional 3,994 shares during the last quarter. Finally, Texas Yale Capital Corp. purchased a new position in shares of FedEx in the first quarter worth $381,000. 84.47% of the stock is currently owned by institutional investors.
FedEx Trading Up 1.7 %
Shares of NYSE:FDX traded up $4.81 during mid-day trading on Wednesday, hitting $292.08. The stock had a trading volume of 1,896,851 shares, compared to its average volume of 1,809,805. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market cap of $71.36 billion, a PE ratio of 18.12, a P/E/G ratio of 1.15 and a beta of 1.17. The company's 50 day moving average is $275.05 and its 200-day moving average is $275.84.
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). The company had revenue of $21.58 billion during 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 company's revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.55 EPS. On average, sell-side analysts predict that FedEx Co. will post 19.59 EPS for the current year.
FedEx Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.89%. FedEx's payout ratio is currently 34.05%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Stephens reiterated an "overweight" rating and issued a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. StockNews.com raised FedEx from a "hold" rating to a "buy" rating in a report on Wednesday. TD Cowen lowered their price target on FedEx from $334.00 to $328.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Daiwa America cut shares of FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. Finally, Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $316.04.
View Our Latest Stock Analysis on FDX
FedEx 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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