Pathstone Holdings LLC Acquires 586 Shares of FedEx Co. (NYSE:FDX)

Pathstone Holdings LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,592 shares of the shipping service provider’s stock after buying an additional 586 shares during the period. Pathstone Holdings LLC’s holdings in FedEx were worth $7,827,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FDX. International Assets Investment Management LLC boosted its stake in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Ceredex Value Advisors LLC grew 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 purchased a new stake in FedEx in the 2nd quarter valued at $46,475,000. Finally, Interval Partners LP boosted its holdings in FedEx by 408.3% during the 2nd quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock worth $57,296,000 after acquiring an additional 153,497 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird dropped their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. TD Cowen reduced their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, Stifel Nicolaus lowered 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 issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

Shares of NYSE:FDX opened at $295.34 on Friday. The company has a 50 day moving average of $276.07 and a 200 day moving average of $277.14. 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 cap of $72.16 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.22 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results 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). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.55 earnings per share. As a group, sell-side analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

About FedEx

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.