KKM Financial LLC Buys 559 Shares of FedEx Co. (NYSE:FDX)

KKM Financial LLC increased its stake in FedEx Co. (NYSE:FDX) by 6.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,228 shares of the shipping service provider’s stock after purchasing an additional 559 shares during the period. KKM Financial LLC’s holdings in FedEx were worth $2,526,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in FedEx by 473.8% in the third 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 buying an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in FedEx by 34.6% in 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 in the last quarter. Ceredex Value Advisors LLC boosted its stake in FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after buying an additional 161,022 shares in the last quarter. Empyrean Capital Partners LP acquired a new stake in FedEx in the second quarter valued at about $46,475,000. Finally, Interval Partners LP boosted its stake in shares of FedEx by 408.3% during the second quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock valued at $57,296,000 after purchasing an additional 153,497 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent research reports. Bank of America cut their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. UBS Group cut their price target on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Citigroup lifted their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Loop Capital cut their price target on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Finally, TD Cowen cut their price target on FedEx from $334.00 to $328.00 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 given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

FedEx Trading Up 1.6 %

Shares of FDX stock opened at $299.97 on Friday. The company has a market cap of $73.29 billion, a P/E ratio of 18.51, a PEG ratio of 1.23 and a beta of 1.17. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a 50 day simple moving average of $276.34 and a two-hundred day simple moving average of $277.42. 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 (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for 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 company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.55 EPS. Research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. FedEx’s dividend payout ratio is 34.05%.

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.