Secure Asset Management LLC Purchases 54 Shares of FedEx Co. (NYSE:FDX)

Secure Asset Management LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 6.9% during the third quarter, Holdings Channel.com reports. The firm owned 832 shares of the shipping service provider’s stock after acquiring an additional 54 shares during the period. Secure Asset Management LLC’s holdings in FedEx were worth $228,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Cumberland Advisors Inc. lifted its holdings in shares of FedEx by 5.2% in the 3rd quarter. Cumberland Advisors Inc. now owns 10,175 shares of the shipping service provider’s stock valued at $2,785,000 after acquiring an additional 500 shares during the last quarter. Beech Hill Advisors Inc. boosted its holdings in shares of FedEx by 1.4% in the 3rd quarter. Beech Hill Advisors Inc. now owns 7,045 shares of the shipping service provider’s stock worth $1,928,000 after purchasing an additional 100 shares during the period. Bfsg LLC increased its position in shares of FedEx by 34.2% during the 3rd quarter. Bfsg LLC now owns 1,025 shares of the shipping service provider’s stock valued at $281,000 after purchasing an additional 261 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in FedEx by 1.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 28,799 shares of the shipping service provider’s stock valued at $7,882,000 after buying an additional 511 shares during the period. Finally, Leisure Capital Management lifted its position in FedEx by 1.4% in the third quarter. Leisure Capital Management now owns 3,921 shares of the shipping service provider’s stock worth $1,073,000 after buying an additional 56 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX stock opened at $274.45 on Friday. The stock’s 50-day moving average is $280.10 and its 200 day moving average is $275.00. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. 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 company has a market cap of $67.54 billion, a P/E ratio of 15.93, a PEG ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results 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). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.55 earnings per share. Research analysts predict that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared 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 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FDX. Morgan Stanley cut 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. BMO Capital Markets reduced their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. UBS Group dropped their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research note on Sunday, October 6th. Finally, Stephens reissued an “overweight” rating and set a $350.00 price target on shares of FedEx 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.17.

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.