Victory Capital Management Inc. Has $95.51 Million Holdings in FedEx Co. (NYSE:FDX)

Victory Capital Management Inc. trimmed its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 6.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 348,971 shares of the shipping service provider's stock after selling 24,995 shares during the quarter. Victory Capital Management Inc. owned approximately 0.14% of FedEx worth $95,506,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Czech National Bank grew its stake in shares of FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock valued at $12,564,000 after buying an additional 2,767 shares during the period. Magnolia Capital Advisors LLC acquired a new position in shares of FedEx in the 2nd quarter valued at $9,226,000. Raymond James & Associates raised its holdings in FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider's stock valued at $132,926,000 after buying an additional 31,241 shares during the period. Manning & Napier Advisors LLC acquired a new position in FedEx in the second quarter valued at about $22,052,000. Finally, Versor Investments LP purchased a new stake in shares of FedEx in the 3rd quarter valued at approximately $2,096,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FDX shares. UBS Group dropped their price objective on FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a research note on Friday, September 20th. TD Cowen reduced their price objective on shares of FedEx from $334.00 to $328.00 and set a "buy" rating on the stock in a report on Friday, September 20th. HSBC lowered FedEx from a "buy" rating to a "hold" rating and set a $300.00 price objective 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 note on Wednesday, September 11th. Finally, Stephens reaffirmed an "overweight" rating and issued a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Two 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. According to MarketBeat, FedEx currently has an average rating of "Moderate Buy" and an average price target of $316.04.

FedEx Price Performance

NYSE:FDX traded up $0.40 during midday trading on Thursday, hitting $292.29. 1,240,359 shares of the stock were exchanged, compared to its average volume of 1,807,228. The business has a 50-day moving average price of $275.04 and a two-hundred day moving average price of $275.95. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $71.41 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.15 and a beta of 1.17. FedEx Co. has a one year low of $234.45 and a one year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its 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 net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the company earned $4.55 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, September 9th. FedEx's dividend payout ratio (DPR) is presently 34.05%.

About FedEx

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.