Y Intercept Hong Kong Ltd Boosts Stock Position in FedEx Co. (NYSE:FDX)

Y Intercept Hong Kong Ltd grew its position in shares of FedEx Co. (NYSE:FDX) by 68.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,225 shares of the shipping service provider’s stock after purchasing an additional 7,011 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in FedEx were worth $4,714,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Diversify Advisory Services LLC purchased a new position in FedEx in the 2nd quarter worth $203,000. Dynamic Advisor Solutions LLC lifted its stake in shares of FedEx by 8.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,864 shares of the shipping service provider’s stock valued at $2,058,000 after acquiring an additional 538 shares during the last quarter. Wedmont Private Capital boosted its holdings in FedEx by 6.8% during the 2nd quarter. Wedmont Private Capital now owns 2,254 shares of the shipping service provider’s stock valued at $674,000 after acquiring an additional 144 shares during the period. AA Financial Advisors LLC bought a new position in FedEx during the 2nd quarter worth approximately $203,000. Finally, NorthCrest Asset Manangement LLC increased its stake in FedEx by 0.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 18,942 shares of the shipping service provider’s stock worth $5,679,000 after purchasing an additional 89 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of NYSE FDX opened at $280.68 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a 50 day simple moving average of $279.81 and a two-hundred day simple moving average of $280.16. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a market capitalization of $68.58 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last posted 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the business earned $4.55 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent analyst reports. Loop Capital cut their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on shares of FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. UBS Group dropped their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report 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. Finally, Barclays increased their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $316.68.

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.