Matrix Asset Advisors Inc. NY Has $13.70 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Matrix Asset Advisors Inc. NY boosted its stake in shares of FedEx Co. (NYSE:FDX) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 50,047 shares of the shipping service provider’s stock after buying an additional 216 shares during the period. FedEx makes up approximately 1.5% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 29th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in FedEx were worth $13,697,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. Capital International Investors boosted its holdings in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Mawer Investment Management Ltd. grew its position in FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Ameriprise Financial Inc. increased its stake in FedEx by 34.6% in the 2nd 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after buying an additional 121,240 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FDX. Citigroup assumed coverage on FedEx in a research report on Wednesday. They issued a “buy” rating and a $301.00 target price on the stock. Argus boosted their price target on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. TD Cowen cut their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Morgan Stanley downgraded shares of 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 report on Friday, September 20th. Finally, Bank of America cut their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $314.17.

Insider Buying and Selling

In other FedEx news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by corporate insiders.

FedEx Trading Up 0.0 %

Shares of FDX stock opened at $264.36 on Friday. The stock has a 50 day simple moving average of $281.08 and a 200 day simple moving average of $275.48. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. 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 stock has a market cap of $64.59 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 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 company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

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.