Essex Savings Bank Boosts Stock Holdings in FedEx Co. (NYSE:FDX)

Essex Savings Bank boosted its stake in shares of FedEx Co. (NYSE:FDX) by 4.7% during the third quarter, HoldingsChannel.com reports. The firm owned 1,464 shares of the shipping service provider’s stock after acquiring an additional 66 shares during the period. Essex Savings Bank’s holdings in FedEx were worth $401,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. TCTC Holdings LLC raised its stake in shares of FedEx by 1.0% in the 3rd quarter. TCTC Holdings LLC now owns 4,752 shares of the shipping service provider’s stock valued at $1,301,000 after acquiring an additional 47 shares during the period. Assetmark Inc. grew its holdings in FedEx by 3.7% during the 3rd quarter. Assetmark Inc. now owns 300,486 shares of the shipping service provider’s stock valued at $82,237,000 after purchasing an additional 10,797 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in FedEx by 22.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,192 shares of the shipping service provider’s stock valued at $326,000 after purchasing an additional 217 shares in the last quarter. Markel Group Inc. grew its holdings in FedEx by 7.7% during the 3rd quarter. Markel Group Inc. now owns 195,000 shares of the shipping service provider’s stock valued at $53,368,000 after purchasing an additional 14,000 shares in the last quarter. Finally, United Bank acquired a new position in FedEx during the 3rd quarter worth $615,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FDX. Susquehanna decreased their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. TD Cowen decreased their price objective 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. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. StockNews.com downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Price Performance

NYSE FDX opened at $286.28 on Friday. The company has a 50 day moving average price of $275.36 and a two-hundred day moving average price of $275.43. 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 12-month low of $234.45 and a 12-month high of $313.84. The stock has a market capitalization of $69.94 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the firm posted $4.55 earnings per share. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 yield of 1.93%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 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.