Sigma Planning Corp Grows Stock Holdings in FedEx Co. (NYSE:FDX)

Sigma Planning Corp grew its holdings in FedEx Co. (NYSE:FDX) by 1.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,053 shares of the shipping service provider’s stock after acquiring an additional 90 shares during the period. Sigma Planning Corp’s holdings in FedEx were worth $1,383,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Evermay Wealth Management LLC increased its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in shares of FedEx in the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the 2nd quarter valued at approximately $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FDX. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. decreased their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Robert W. Baird reduced their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Evercore ISI dropped their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Stifel Nicolaus reduced their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $315.42.

FedEx Stock Down 0.9 %

NYSE:FDX opened at $287.32 on Wednesday. The company’s 50-day simple moving average is $275.18 and its 200-day simple moving average is $275.69. 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 fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a market capitalization of $70.20 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.15 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the business earned $4.55 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.92%. FedEx’s dividend payout ratio (DPR) is currently 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.