Souders Financial Advisors Increases Holdings in FedEx Co. (NYSE:FDX)

Souders Financial Advisors raised its holdings in FedEx Co. (NYSE:FDX) by 41.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 955 shares of the shipping service provider’s stock after buying an additional 279 shares during the quarter. Souders Financial Advisors’ holdings in FedEx were worth $261,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Atomi Financial Group Inc. bought a new stake in shares of FedEx during the 1st quarter valued at about $245,000. ProShare Advisors LLC boosted its position in FedEx by 16.8% during the 1st quarter. ProShare Advisors LLC now owns 35,979 shares of the shipping service provider’s stock valued at $10,425,000 after acquiring an additional 5,186 shares in the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of FedEx by 13.2% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,548 shares of the shipping service provider’s stock worth $448,000 after acquiring an additional 180 shares during the period. State Board of Administration of Florida Retirement System lifted its position in FedEx by 1.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 257,755 shares of the shipping service provider’s stock valued at $74,682,000 after buying an additional 3,994 shares during the period. Finally, Texas Yale Capital Corp. bought a new stake in shares of FedEx during the 1st quarter valued at $381,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of recent research reports. Loop Capital lowered their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note on Tuesday. Bernstein Bank upped their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Bank of America dropped their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating 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 assigned a buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $315.42.

FedEx Trading Down 0.9 %

NYSE FDX opened at $287.32 on Wednesday. The stock has a market cap of $70.20 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.16 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a fifty day simple moving average of $275.05 and a two-hundred day simple moving average of $275.84.

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 analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $4.55 earnings per share. On average, analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.92%. FedEx’s payout ratio is currently 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.