CX Institutional Increases Stake in FedEx Co. (NYSE:FDX)

CX Institutional increased its holdings in FedEx Co. (NYSE:FDX) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,552 shares of the shipping service provider’s stock after acquiring an additional 180 shares during the quarter. CX Institutional’s holdings in FedEx were worth $698,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in FedEx during the first quarter valued at approximately $1,667,000. Allegheny Financial Group LTD bought a new position in shares of FedEx in the 1st quarter worth $203,000. Hilltop National Bank purchased a new stake in shares of FedEx during the 1st quarter worth $476,000. Csenge Advisory Group boosted its position in FedEx by 14.9% during the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares in the last quarter. Finally, Czech National Bank grew its stake 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 purchasing an additional 2,767 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FDX shares. Robert W. Baird lowered their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Wells Fargo & Company raised their target price on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Loop Capital reduced their price target on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, TD Cowen reduced their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Up 2.3 %

Shares of FDX opened at $271.91 on Thursday. The stock’s 50-day moving average price is $280.25 and its 200-day moving average price is $275.05. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $66.91 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.06 and a beta of 1.17. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84.

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

FedEx Dividend Announcement

The firm 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. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

FedEx 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.