Royal London Asset Management Ltd. Grows Position in FedEx Co. (NYSE:FDX)

Royal London Asset Management Ltd. grew its stake in shares of FedEx Co. (NYSE:FDX) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,692 shares of the shipping service provider’s stock after purchasing an additional 865 shares during the period. Royal London Asset Management Ltd.’s holdings in FedEx were worth $24,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. SeaCrest Wealth Management LLC grew its position in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC increased its stake in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC raised its holdings in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC raised its holdings in FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC boosted its position in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FedEx stock opened at $280.52 on Friday. The stock has a market capitalization of $68.54 billion, a P/E ratio of 17.31, a PEG ratio of 1.18 and a beta of 1.18. 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 business’s fifty day moving average price is $279.55 and its 200 day moving average price is $279.60. FedEx Co. has a twelve month low of $234.45 and a twelve month 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 (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 for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the firm posted $4.55 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FDX. Loop Capital cut their price target on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Stephens reaffirmed an “overweight” rating and issued a $350.00 price target on shares of FedEx in a 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. Stifel Nicolaus reduced 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. Finally, Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $337.00 to $316.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.68.

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.