FedEx Co. (NYSE:FDX) Stake Boosted by DiNuzzo Private Wealth Inc.

DiNuzzo Private Wealth Inc. raised its position in shares of FedEx Co. (NYSE:FDX) by 2,661.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 718 shares of the shipping service provider’s stock after buying an additional 692 shares during the quarter. DiNuzzo Private Wealth Inc.’s holdings in FedEx were worth $197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter worth approximately $39,000. Abound Wealth Management boosted its position in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the period. Sachetta LLC grew its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares in the last quarter. ORG Partners LLC acquired a new position in FedEx during the second quarter valued at $50,000. Finally, OFI Invest Asset Management lifted its stake in FedEx by 91.8% in the 1st quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock worth $50,000 after acquiring an additional 89 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

NYSE FDX opened at $274.33 on Friday. The stock has a market cap of $67.51 billion, a P/E ratio of 15.92, a PEG ratio of 1.06 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The company’s 50-day simple moving average is $280.16 and its 200 day simple moving average is $275.04.

FedEx (NYSE:FDX) last announced 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 quarter in the previous year, the company posted $4.55 EPS. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is presently 32.04%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Bank of America cut their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research report on Sunday, October 6th. Citigroup began coverage on FedEx in a report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price target for the company. Finally, Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

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.