Caprock Group LLC Has $2.36 Million Stock Position in FedEx Co. (NYSE:FDX)

Caprock Group LLC lowered its stake in FedEx Co. (NYSE:FDX) by 17.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,586 shares of the shipping service provider’s stock after selling 1,760 shares during the period. Caprock Group LLC’s holdings in FedEx were worth $2,362,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Pathstone Holdings LLC increased its holdings in FedEx by 2.1% in the 3rd quarter. Pathstone Holdings LLC now owns 28,592 shares of the shipping service provider’s stock valued at $7,827,000 after buying an additional 586 shares during the period. Aviance Capital Partners LLC lifted its holdings in shares of FedEx by 3.3% during the 3rd quarter. Aviance Capital Partners LLC now owns 8,926 shares of the shipping service provider’s stock worth $2,443,000 after acquiring an additional 281 shares during the period. Meeder Advisory Services Inc. increased its stake in FedEx by 2.0% in the third quarter. Meeder Advisory Services Inc. now owns 6,317 shares of the shipping service provider’s stock valued at $1,729,000 after acquiring an additional 124 shares during the last quarter. Wharton Business Group LLC increased its stake in FedEx by 0.4% in the third quarter. Wharton Business Group LLC now owns 18,336 shares of the shipping service provider’s stock valued at $5,018,000 after acquiring an additional 75 shares during the last quarter. Finally, Mendel Capital Management LLC lifted its stake in FedEx by 2.1% during the third quarter. Mendel Capital Management LLC now owns 5,249 shares of the shipping service provider’s stock worth $1,436,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $293.02 on Wednesday. The company has a market cap of $71.59 billion, a P/E ratio of 18.08, a PEG ratio of 1.23 and a beta of 1.17. The company has a fifty day simple moving average of $275.82 and a 200 day simple moving average of $276.94. 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 Co. has a 12-month low of $234.45 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the firm earned $4.55 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Sell-side analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given 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 dividend yield of 1.88%. FedEx’s payout ratio is 34.05%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FDX. BMO Capital Markets dropped their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Stifel Nicolaus cut their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bank of America lowered their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reduced their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.