FedEx Co. (NYSE:FDX) Position Boosted by Rossmore Private Capital

Rossmore Private Capital raised its holdings in shares of FedEx Co. (NYSE:FDX) by 22.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,619 shares of the shipping service provider’s stock after acquiring an additional 300 shares during the quarter. Rossmore Private Capital’s holdings in FedEx were worth $443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Czech National Bank grew its stake in shares of FedEx by 6.4% in 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. Magnolia Capital Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at approximately $9,226,000. Raymond James & Associates grew its stake in shares of FedEx by 6.9% in the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after buying an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at approximately $22,052,000. Finally, Philip James Wealth Mangement LLC bought a new stake in shares of FedEx in the 3rd quarter valued at approximately $6,905,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FDX. Stephens reissued an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Stifel Nicolaus reduced their target price on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. BMO Capital Markets reduced their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Bernstein Bank boosted their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $315.42.

FedEx Stock Performance

FDX opened at $287.32 on Wednesday. The stock has a market cap of $70.20 billion, a PE ratio of 17.72, a P/E/G ratio of 1.16 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 Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock’s 50 day simple moving average is $275.05 and its 200-day simple moving average is $275.84.

FedEx (NYSE:FDX) last released its quarterly earnings data 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 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 business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.55 earnings per share. Sell-side analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company 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. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is presently 34.05%.

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.