FedEx Co. (NYSE:FDX) Shares Purchased by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC increased its stake in shares of FedEx Co. (NYSE:FDX) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,508 shares of the shipping service provider’s stock after purchasing an additional 58 shares during the period. FedEx accounts for about 2.0% of Wells Trecaso Financial Group LLC’s holdings, making the stock its 20th biggest position. Wells Trecaso Financial Group LLC’s holdings in FedEx were worth $6,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth approximately $39,000. Abound Wealth Management raised 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 worth $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC raised its position 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 during the last quarter. ORG Partners LLC acquired a new position in shares of FedEx during the 2nd quarter worth approximately $50,000. Finally, TruNorth Capital Management LLC purchased a new stake in FedEx in the 2nd quarter worth approximately $56,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

NYSE:FDX opened at $275.45 on Tuesday. 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 firm has a market capitalization of $67.30 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.08 and a beta of 1.17. The firm’s fifty day simple moving average is $278.57 and its 200 day simple moving average is $274.86. FedEx Co. has a twelve month low of $229.07 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the firm posted $4.55 EPS. The business’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Upgrades and Downgrades

Several research firms have commented on FDX. Loop Capital lowered their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Citigroup began coverage on shares of FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 target price for the company. Susquehanna lowered their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. UBS Group lowered their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, Evercore ISI lowered their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $314.17.

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.