Kingsview Wealth Management LLC Purchases 259 Shares of FedEx Co. (NYSE:FDX)

Kingsview Wealth Management LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,014 shares of the shipping service provider’s stock after buying an additional 259 shares during the quarter. Kingsview Wealth Management LLC’s holdings in FedEx were worth $825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Silvercrest Asset Management Group LLC purchased a new position in shares of FedEx during the first quarter valued at approximately $629,000. Comerica Bank raised its stake in FedEx by 4.9% during the first quarter. Comerica Bank now owns 49,483 shares of the shipping service provider’s stock valued at $14,337,000 after buying an additional 2,310 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in FedEx by 24.8% in the first quarter. iA Global Asset Management Inc. now owns 12,895 shares of the shipping service provider’s stock worth $3,736,000 after acquiring an additional 2,565 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of FedEx in the first quarter worth $212,000. Finally, LRI Investments LLC bought a new position in shares of FedEx during the first quarter valued at $121,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report 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 report on Friday, September 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Finally, Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Performance

FDX opened at $303.41 on Thursday. The company has a 50 day simple moving average of $276.80 and a two-hundred day simple moving average of $278.42. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The firm has a market cap of $74.13 billion, a P/E ratio of 18.72, a PEG ratio of 1.27 and a beta of 1.17. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the company posted $4.55 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.82%. FedEx’s payout ratio is 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.