FedEx Co. (NYSE:FDX) Stock Position Lifted by Cwm LLC

Cwm LLC boosted its stake in FedEx Co. (NYSE:FDX) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,562 shares of the shipping service provider’s stock after buying an additional 991 shares during the quarter. Cwm LLC’s holdings in FedEx were worth $2,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in FedEx during the first quarter worth approximately $1,667,000. Allegheny Financial Group LTD acquired a new position in FedEx in the 1st quarter valued at $203,000. Hilltop National Bank bought a new position in FedEx in the 1st quarter worth $476,000. Csenge Advisory Group raised its holdings in FedEx by 14.9% in the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after acquiring an additional 298 shares during the period. Finally, Czech National Bank lifted its position in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after acquiring an additional 2,767 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of FedEx stock opened at $267.51 on Tuesday. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The firm’s 50-day moving average price is $280.77 and its two-hundred day moving average price is $275.24. 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 stock has a market capitalization of $65.83 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $4.55 earnings per share. On average, equities analysts predict that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Wall Street Analysts Forecast Growth

FDX has been the subject of several recent analyst reports. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. UBS Group dropped their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. 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 report on Friday, September 20th. Finally, Raymond James dropped their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

Insider Activity

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sriram Krishnasamy sold 8,421 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.73% of the company’s stock.

FedEx Company Profile

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.