Hofer & Associates. Inc Acquires Shares of 747 FedEx Co. (NYSE:FDX)

Hofer & Associates. Inc purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 747 shares of the shipping service provider’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Central Valley Advisors LLC purchased a new stake in FedEx in the 2nd quarter valued at $39,000. Abound Wealth Management lifted its holdings in FedEx by 175.9% during the second 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 boosted its position in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. ORG Partners LLC bought a new position in FedEx in the 2nd quarter valued at $50,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of FedEx during the 2nd quarter valued at $56,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Bernstein Bank raised their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Robert W. Baird dropped their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Loop Capital decreased their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Up 0.8 %

FDX traded up $2.11 during midday trading on Tuesday, reaching $270.92. The company’s stock had a trading volume of 459,666 shares, compared to its average volume of 1,841,162. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The stock’s 50-day moving average is $279.89 and its 200-day moving average is $274.93. The firm has a market capitalization of $66.67 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.06 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 (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). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $4.55 EPS. As a group, research analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.04%. FedEx’s dividend payout ratio is 32.04%.

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.