Curi RMB Capital LLC Raises Stake in FedEx Co. (NYSE:FDX)

Curi RMB Capital LLC raised its position in FedEx Co. (NYSE:FDX) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,568 shares of the shipping service provider’s stock after acquiring an additional 57 shares during the period. Curi RMB Capital LLC’s holdings in FedEx were worth $976,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Evermay Wealth Management LLC lifted its stake in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of FedEx in the 3rd quarter worth $31,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx in the 2nd quarter worth $39,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx in the 3rd quarter worth $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $294.46 on Friday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a 50 day moving average price of $275.18 and a 200 day moving average price of $276.07. The firm has a market capitalization of $71.94 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly 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 company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the company posted $4.55 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.87%. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Ratings Changes

Several brokerages recently commented on FDX. UBS Group reduced their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. TD Cowen reduced their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Robert W. Baird reduced their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

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.