FedEx Co. (NYSE:FDX) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of FedEx Co. (NYSE:FDX) by 27.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,433 shares of the shipping service provider’s stock after purchasing an additional 26,260 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FedEx were worth $33,234,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FDX. Evermay Wealth Management LLC grew its position in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of FedEx during the 3rd quarter worth about $31,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the 2nd quarter valued at about $39,000. Abound Wealth Management increased its stake 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 valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in FedEx in the 3rd quarter worth about $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

NYSE FDX opened at $303.39 on Friday. The company has a market cap of $74.13 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.27 and a beta of 1.17. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a 50-day moving average of $276.86 and a two-hundred day moving average of $278.60.

FedEx (NYSE:FDX) last announced 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). The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $4.55 earnings per share. As a group, analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.82%. FedEx’s dividend payout ratio (DPR) is 34.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FDX shares. Bernstein Bank boosted 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. Robert W. Baird decreased their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. The Goldman Sachs Group cut their target price on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. UBS Group decreased their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

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.