Olstein Capital Management L.P. Increases Position in FedEx Co. (NYSE:FDX)

Olstein Capital Management L.P. lifted its position in shares of FedEx Co. (NYSE:FDX) by 14.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 31,500 shares of the shipping service provider’s stock after purchasing an additional 4,000 shares during the period. FedEx comprises about 1.5% of Olstein Capital Management L.P.’s holdings, making the stock its 24th largest position. Olstein Capital Management L.P.’s holdings in FedEx were worth $8,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares in the last quarter. Capital International Investors lifted its stake in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after purchasing an additional 2,163,622 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in FedEx by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after purchasing an additional 121,240 shares in the last quarter. Finally, Sentry LLC lifted its position in shares of FedEx by 0.5% during the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after buying an additional 6,657 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 1.3 %

Shares of FedEx stock traded up $3.66 during mid-day trading on Thursday, hitting $283.72. 91,525 shares of the stock were exchanged, compared to its average volume of 1,807,733. The stock has a market capitalization of $69.32 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.09 and a beta of 1.17. FedEx Co. has a twelve month low of $234.45 and a twelve month 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 50-day simple moving average of $275.86 and a 200 day simple moving average of $275.26.

FedEx (NYSE:FDX) last announced 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). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $4.55 EPS. Research analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.95%. FedEx’s payout ratio is currently 34.05%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FDX shares. Susquehanna reduced their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $314.17.

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.