IVC Wealth Advisors LLC Has $533,000 Stock Position in FedEx Co. (NYSE:FDX)

IVC Wealth Advisors LLC grew its holdings in FedEx Co. (NYSE:FDX) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,948 shares of the shipping service provider’s stock after acquiring an additional 38 shares during the quarter. IVC Wealth Advisors LLC’s holdings in FedEx were worth $533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Central Valley Advisors LLC bought a new stake in shares of FedEx in the second quarter valued at approximately $39,000. Abound Wealth Management lifted its position in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the period. Sachetta LLC grew its holdings in shares of FedEx by 29.1% during the 2nd 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. ORG Partners LLC bought a new position in shares of FedEx in the second quarter worth $50,000. Finally, TruNorth Capital Management LLC acquired a new position in FedEx in the second quarter valued at about $56,000. 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 recent analyst reports. UBS Group decreased their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Evercore ISI reduced 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. Citigroup began coverage on FedEx in a report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price target for the company. Finally, Loop Capital reduced their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $314.17.

FedEx Price Performance

Shares of FDX opened at $272.12 on Monday. The business has a 50-day moving average of $278.83 and a 200-day moving average of $274.84. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The company has a market capitalization of $66.48 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last posted 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 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $4.55 earnings per share. As a group, equities 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 was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. FedEx’s payout ratio is 34.05%.

FedEx 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.