Landscape Capital Management L.L.C. Acquires New Stake in FedEx Co. (NYSE:FDX)

Landscape Capital Management L.L.C. bought a new position in FedEx Co. (NYSE:FDX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,091 shares of the shipping service provider’s stock, valued at approximately $1,941,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FDX. Czech National Bank raised its stake in FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after purchasing an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new stake in shares of FedEx during the 2nd quarter valued at $9,226,000. Raymond James & Associates lifted its holdings in shares of FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after acquiring an additional 31,241 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in FedEx in the second quarter valued at $22,052,000. Finally, Versor Investments LP purchased a new stake in FedEx during the third quarter valued at about $2,096,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Citigroup upped their price objective on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, Stifel Nicolaus cut their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. 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 an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Performance

FedEx stock opened at $295.34 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a market capitalization of $72.16 billion, a P/E ratio of 18.22, a PEG ratio of 1.22 and a beta of 1.17. The stock’s 50 day moving average is $276.07 and its 200 day moving average is $277.14. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last posted 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is currently 34.05%.

About FedEx

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.