Shum Financial Group Inc. Makes New $799,000 Investment in FedEx Co. (NYSE:FDX)

Shum Financial Group Inc. bought a new position in FedEx Co. (NYSE:FDX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,901 shares of the shipping service provider’s stock, valued at approximately $799,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FDX. Silvercrest Asset Management Group LLC bought a new position in FedEx in the 1st quarter worth about $629,000. Waverly Advisors LLC boosted its holdings in shares of FedEx by 124.6% in the first quarter. Waverly Advisors LLC now owns 3,522 shares of the shipping service provider’s stock valued at $1,021,000 after acquiring an additional 1,954 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of FedEx by 15.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,944 shares of the shipping service provider’s stock valued at $3,711,000 after acquiring an additional 1,894 shares in the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of FedEx by 6.6% in the first quarter. Motley Fool Asset Management LLC now owns 7,383 shares of the shipping service provider’s stock valued at $2,139,000 after acquiring an additional 460 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of FedEx by 77.9% in the first quarter. Tidal Investments LLC now owns 17,530 shares of the shipping service provider’s stock valued at $5,079,000 after acquiring an additional 7,678 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FDX shares. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Barclays increased their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. TD Cowen reduced their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Loop Capital reduced their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, BMO Capital Markets reduced their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Down 1.2 %

FDX stock traded down $3.78 during midday trading on Tuesday, reaching $301.37. The company had a trading volume of 135,982 shares, compared to its average volume of 1,795,536. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $73.63 billion, a P/E ratio of 18.81, a PEG ratio of 1.25 and a beta of 1.17. The company has a 50 day moving average of $276.59 and a two-hundred day moving average of $277.98.

FedEx (NYSE:FDX) last released its 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.83%. FedEx’s dividend payout ratio is currently 34.05%.

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.