Beech Hill Advisors Inc. Acquires 100 Shares of FedEx Co. (NYSE:FDX)

Beech Hill Advisors Inc. increased its stake in FedEx Co. (NYSE:FDX) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,045 shares of the shipping service provider’s stock after acquiring an additional 100 shares during the quarter. Beech Hill Advisors Inc.’s holdings in FedEx were worth $1,928,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FDX. Scarborough Advisors LLC bought a new stake in FedEx in the fourth quarter valued at $25,000. Central Valley Advisors LLC bought a new stake in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management raised its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the period. Sachetta LLC boosted its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares in the last quarter. Finally, OFI Invest Asset Management grew its stake in FedEx by 91.8% in the first quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock valued at $50,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 2.3 %

Shares of FDX stock opened at $271.91 on Thursday. 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 firm has a market cap of $66.91 billion, a P/E ratio of 15.78, a PEG ratio of 1.06 and a beta of 1.17. The company has a 50 day moving average of $280.25 and a 200-day moving average of $275.05. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the business earned $4.55 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts anticipate that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.03%. FedEx’s dividend payout ratio is presently 32.04%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FDX. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. The Goldman Sachs Group dropped their price objective on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Stephens reiterated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Argus upped their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, UBS Group cut their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

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.