FedEx Co. (NYSE:FDX) is Focused Investors LLC’s 10th Largest Position

Focused Investors LLC lessened its holdings in FedEx Co. (NYSE:FDX) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 498,800 shares of the shipping service provider’s stock after selling 9,300 shares during the quarter. FedEx accounts for 4.1% of Focused Investors LLC’s investment portfolio, making the stock its 10th biggest position. Focused Investors LLC’s holdings in FedEx were worth $136,512,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. SeaCrest Wealth Management LLC boosted its stake in shares of FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC grew its holdings in FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares during the period. Detalus Advisors LLC boosted its holdings in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC grew its stake in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

Shares of FDX opened at $294.46 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. The firm has a 50 day moving average of $275.40 and a 200 day moving average of $276.37. 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 (NYSE:FDX) last posted 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 business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 EPS. As a group, equities research analysts anticipate 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 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%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Wednesday. TD Cowen dropped their price target on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Morgan Stanley downgraded 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 report on Friday, September 20th. The Goldman Sachs Group decreased their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Finally, Loop Capital cut their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

About FedEx

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.