Lake Street Private Wealth LLC Increases Stake in FedEx Co. (NYSE:FDX)

Lake Street Private Wealth LLC increased its stake in FedEx Co. (NYSE:FDX) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,777 shares of the shipping service provider’s stock after purchasing an additional 297 shares during the quarter. Lake Street Private Wealth LLC’s holdings in FedEx were worth $3,770,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FDX. Central Valley Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management increased its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Sachetta LLC increased its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. ORG Partners LLC purchased a new position in shares of FedEx in the 2nd quarter valued at about $50,000. Finally, TruNorth Capital Management LLC purchased a new position in shares of FedEx in the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Raymond James lowered their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. BMO Capital Markets lowered 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 note on Friday, September 20th. TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Bank of America lowered their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Down 0.9 %

Shares of NYSE:FDX traded down $2.46 during trading on Wednesday, hitting $267.33. The company’s stock had a trading volume of 161,310 shares, compared to its average volume of 1,835,466. 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 Co. has a fifty-two week low of $224.69 and a fifty-two week high of $313.84. The stock’s 50-day moving average price is $279.63 and its two-hundred day moving average price is $274.90. The company has a market capitalization of $65.78 billion, a PE ratio of 15.65, a PEG ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders 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 2.06%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

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.