Vinva Investment Management Ltd Has $2.68 Million Stock Position in FedEx Co. (NYSE:FDX)

Vinva Investment Management Ltd raised its stake in FedEx Co. (NYSE:FDX) by 139.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,033 shares of the shipping service provider’s stock after acquiring an additional 5,836 shares during the quarter. Vinva Investment Management Ltd’s holdings in FedEx were worth $2,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Fiduciary Trust Co raised its position in FedEx by 45.6% in the 3rd quarter. Fiduciary Trust Co now owns 3,294 shares of the shipping service provider’s stock worth $902,000 after purchasing an additional 1,031 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of FedEx by 27.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,433 shares of the shipping service provider’s stock valued at $33,234,000 after buying an additional 26,260 shares during the period. First Commonwealth Financial Corp PA raised its position in shares of FedEx by 1.4% during the third quarter. First Commonwealth Financial Corp PA now owns 3,357 shares of the shipping service provider’s stock worth $919,000 after acquiring an additional 47 shares during the last quarter. Blueshift Asset Management LLC bought a new position in FedEx in the third quarter valued at about $404,000. Finally, Glenmede Trust Co. NA boosted its holdings in FedEx by 3.8% in the third quarter. Glenmede Trust Co. NA now owns 56,847 shares of the shipping service provider’s stock valued at $15,558,000 after acquiring an additional 2,064 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FDX. Robert W. Baird cut their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Loop Capital reduced their price objective 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. Bernstein Bank upped their target price on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Morgan Stanley lowered 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. Finally, Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Performance

FDX opened at $303.39 on Friday. The company has a market capitalization of $74.13 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.27 and a beta of 1.17. The business’s 50-day moving average price is $276.86 and its two-hundred day moving average price is $278.60. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. 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 (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). 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 in the prior year, the business posted $4.55 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts expect that FedEx Co. will post 19.59 EPS 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 dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is 34.05%.

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.