FedEx Co. (NYSE:FDX) Shares Purchased by Coastline Trust Co

Coastline Trust Co raised its position in FedEx Co. (NYSE:FDX) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,405 shares of the shipping service provider’s stock after buying an additional 176 shares during the period. Coastline Trust Co’s holdings in FedEx were worth $1,206,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital International Investors lifted its stake in shares of FedEx by 32.5% in 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 buying an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. lifted its stake in FedEx by 5.6% in 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 purchasing an additional 1,056,061 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in shares of FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of several analyst reports. Barclays upped their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup raised their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets decreased their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Loop Capital cut their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $316.04.

FedEx Price Performance

FDX stock opened at $294.46 on Friday. The business’s 50-day moving average is $275.40 and its two-hundred day moving average is $276.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The firm has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the business earned $4.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.87%. FedEx’s dividend payout ratio (DPR) is presently 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.