Avidian Wealth Enterprises LLC Has $645,000 Stake in FedEx Co. (NYSE:FDX)

Avidian Wealth Enterprises LLC raised its stake in FedEx Co. (NYSE:FDX) by 12.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,358 shares of the shipping service provider’s stock after buying an additional 254 shares during the period. Avidian Wealth Enterprises LLC’s holdings in FedEx were worth $645,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FDX. Csenge Advisory Group grew its stake in FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after purchasing an additional 298 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of FedEx by 15.1% in the first quarter. Manchester Capital Management LLC now owns 603 shares of the shipping service provider’s stock valued at $175,000 after buying an additional 79 shares during the last quarter. Empirical Finance LLC lifted its position in shares of FedEx by 3.4% in the first quarter. Empirical Finance LLC now owns 8,512 shares of the shipping service provider’s stock valued at $2,466,000 after buying an additional 277 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of FedEx by 8.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 17,780 shares of the shipping service provider’s stock valued at $5,152,000 after buying an additional 1,441 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of FedEx in the first quarter valued at approximately $476,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. BMO Capital Markets cut 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. Loop Capital dropped their price target on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Robert W. Baird dropped their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Up 1.7 %

FDX opened at $280.06 on Thursday. The stock has a market cap of $68.42 billion, a PE ratio of 17.28, a P/E/G ratio of 1.09 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 52 week low of $234.45 and a 52 week high of $313.84. The business’s fifty day simple moving average is $275.86 and its 200 day simple moving average is $275.26.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 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 the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.55 EPS. As a group, research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.97%. FedEx’s dividend payout ratio (DPR) 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.