DORCHESTER WEALTH MANAGEMENT Co Buys 1,232 Shares of FedEx Co. (NYSE:FDX)

DORCHESTER WEALTH MANAGEMENT Co increased its stake in FedEx Co. (NYSE:FDX) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,419 shares of the shipping service provider’s stock after buying an additional 1,232 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in FedEx were worth $6,683,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FDX. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of FedEx during the first quarter valued at approximately $1,667,000. Allegheny Financial Group LTD purchased a new position in shares of FedEx during the 1st quarter worth $203,000. Hilltop National Bank purchased a new position in shares of FedEx during the 1st quarter worth $476,000. Csenge Advisory Group boosted its stake in shares of FedEx by 14.9% during the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock worth $666,000 after acquiring an additional 298 shares during the last quarter. Finally, Czech National Bank lifted its stake in shares of FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FDX. UBS Group reduced their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Friday, September 20th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Finally, Raymond James reduced their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Stock Up 1.3 %

FedEx stock traded up $3.51 during trading on Thursday, reaching $271.56. The stock had a trading volume of 481,456 shares, compared to its average volume of 1,833,708. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The business has a 50 day moving average price of $279.32 and a 200 day moving average price of $274.85. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market cap of $66.83 billion, a PE ratio of 15.83, a P/E/G ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.55 EPS. On average, analysts predict that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. FedEx’s dividend payout ratio is presently 32.04%.

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.