Keene & Associates Inc. Reduces Position in FedEx Co. (NYSE:FDX)

Keene & Associates Inc. lessened its position in FedEx Co. (NYSE:FDX) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,282 shares of the shipping service provider’s stock after selling 93 shares during the period. FedEx comprises 3.0% of Keene & Associates Inc.’s portfolio, making the stock its 11th largest holding. Keene & Associates Inc.’s holdings in FedEx were worth $3,909,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Capital International Investors grew its stake in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Vanguard Group Inc. boosted its holdings in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. Mawer Investment Management Ltd. grew its position in FedEx by 43.5% during 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 acquiring an additional 684,679 shares during the period. International Assets Investment Management LLC increased its stake in FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research reports. Stifel Nicolaus cut their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Raymond James reduced their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Evercore ISI lowered their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Loop Capital dropped their price target on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Trading Down 0.7 %

FedEx stock opened at $268.02 on Thursday. The business’s 50-day simple moving average is $279.32 and its 200-day simple moving average is $274.85. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The firm has a market capitalization of $65.95 billion, a PE ratio of 15.56, a PEG ratio of 1.06 and a beta of 1.17. 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 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). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.55 earnings per share. Equities research analysts forecast that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a 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%.

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.