Penserra Capital Management LLC Acquires 1,496 Shares of FedEx Co. (NYSE:FDX)

Penserra Capital Management LLC increased its stake in FedEx Co. (NYSE:FDX) by 139.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,567 shares of the shipping service provider’s stock after acquiring an additional 1,496 shares during the period. Penserra Capital Management LLC’s holdings in FedEx were worth $701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Czech National Bank boosted its holdings in FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after acquiring an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in FedEx during the second quarter valued at $9,226,000. Raymond James & Associates boosted its stake in FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after purchasing an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of FedEx during the second quarter valued at approximately $22,052,000. Finally, Versor Investments LP bought a new stake in FedEx in the 3rd quarter worth about $2,096,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group decreased their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Barclays upped their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Robert W. Baird decreased their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Up 0.1 %

NYSE FDX opened at $303.41 on Thursday. The stock has a market capitalization 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 company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The stock has a fifty day moving average of $276.80 and a 200-day moving average of $278.42.

FedEx (NYSE:FDX) last announced 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). The company 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 quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $4.55 earnings per share. On average, equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is presently 34.05%.

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.