Vinva Investment Management Ltd increased its stake in FedEx Co. (NYSE:FDX - Free Report) by 139.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,033 shares of the shipping service provider's stock after acquiring an additional 5,836 shares during the period. Vinva Investment Management Ltd's holdings in FedEx were worth $2,684,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock worth $2,147,540,000 after buying an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider's stock worth $674,336,000 after buying an additional 578,350 shares in the last quarter. Ceredex Value Advisors LLC boosted its holdings in FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider's stock worth $101,022,000 after buying an additional 161,022 shares in the last quarter. Empyrean Capital Partners LP bought a new stake in FedEx during the second quarter worth approximately $46,475,000. Finally, Interval Partners LP boosted its holdings in FedEx by 408.3% during the second quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider's stock worth $57,296,000 after buying an additional 153,497 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on FDX. Bank of America reduced their target price on shares of FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Daiwa America downgraded shares of FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of FedEx from a "hold" rating to a "buy" rating in a research report on Wednesday, November 13th. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an "outperform" rating for the company in a research report on Friday, September 20th. Finally, Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 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 assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $316.04.
Check Out Our Latest Stock Report on FedEx
FedEx Price Performance
FDX stock traded down $0.65 during trading on Friday, hitting $302.74. 665,498 shares of the stock traded hands, compared to its average volume of 1,793,733. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The stock has a market cap 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. The company has a 50 day simple moving average of $277.83 and a 200 day simple moving average of $278.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.
FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business earned $4.55 earnings per share. The company's revenue for the quarter was down .5% on a year-over-year basis. Equities analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.
FedEx Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's dividend payout ratio is presently 34.05%.
About FedEx
(
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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