FedEx Co. (NYSE:FDX) Stake Boosted by SFE Investment Counsel

SFE Investment Counsel boosted its stake in shares of FedEx Co. (NYSE:FDX) by 4.6% in the third quarter, HoldingsChannel reports. The firm owned 12,387 shares of the shipping service provider’s stock after purchasing an additional 550 shares during the quarter. SFE Investment Counsel’s holdings in FedEx were worth $3,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in FDX. Central Valley Advisors LLC bought a new stake in FedEx in the second quarter valued at $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 worth $45,000 after acquiring an additional 95 shares during the period. Sachetta LLC lifted its position in 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 during the last quarter. ORG Partners LLC acquired a new position in FedEx during the 2nd quarter valued at about $50,000. Finally, TruNorth Capital Management LLC bought a new position in FedEx in the 2nd quarter worth about $56,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FDX shares. The Goldman Sachs Group cut their price target on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. BMO Capital Markets cut their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Finally, Raymond James decreased their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Performance

FedEx stock opened at $275.45 on Tuesday. 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 Co. has a fifty-two week low of $229.07 and a fifty-two week high of $313.84. The firm’s 50 day simple moving average is $278.57 and its 200-day simple moving average is $274.86. The company has a market cap of $67.30 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the company posted $4.55 EPS. The business’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed 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 2.00%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 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.