Principal Financial Group Inc. Has $70.30 Million Holdings in FedEx Co. (NYSE:FDX)

Principal Financial Group Inc. boosted its position in FedEx Co. (NYSE:FDX) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,870 shares of the shipping service provider’s stock after buying an additional 10,063 shares during the period. Principal Financial Group Inc.’s holdings in FedEx were worth $70,300,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. LRI Investments LLC increased its holdings in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares in the last quarter. Clear Creek Financial Management LLC lifted its position in shares of FedEx by 12.0% during the 2nd quarter. Clear Creek Financial Management LLC now owns 1,191 shares of the shipping service provider’s stock valued at $358,000 after acquiring an additional 128 shares during the period. Independence Bank of Kentucky boosted its stake in FedEx by 282.9% during the second quarter. Independence Bank of Kentucky now owns 670 shares of the shipping service provider’s stock worth $201,000 after acquiring an additional 495 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in FedEx by 10.2% in the second quarter. Catalyst Financial Partners LLC now owns 851 shares of the shipping service provider’s stock worth $255,000 after purchasing an additional 79 shares during the period. Finally, Callan Family Office LLC bought a new stake in FedEx in the second quarter valued at $758,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Down 0.1 %

FedEx stock opened at $275.73 on Friday. 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 company has a market capitalization of $67.37 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 1.18. The firm has a 50 day moving average price of $282.71 and a 200-day moving average price of $282.10. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the business posted $3.99 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. FedEx’s dividend payout ratio is presently 35.18%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Robert W. Baird reduced their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research report on Friday, September 20th. Loop Capital raised shares of FedEx from a “hold” rating to a “buy” rating and lifted their price target for the company from $288.00 to $365.00 in a research report on Friday. The Goldman Sachs Group lowered their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Finally, TD Cowen boosted their target price on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.88.

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.