1,700 Shares in FedEx Co. (NYSE:FDX) Acquired by Morse Asset Management Inc

Morse Asset Management Inc purchased a new position in shares of FedEx Co. (NYSE:FDX) during the third quarter, HoldingsChannel reports. The firm purchased 1,700 shares of the shipping service provider’s stock, valued at approximately $465,000.

A number of other institutional investors have also added to or reduced their stakes in FDX. CWM LLC increased its holdings in FedEx by 8.5% during the 2nd quarter. CWM LLC now owns 7,571 shares of the shipping service provider’s stock worth $2,270,000 after purchasing an additional 593 shares in the last quarter. Csenge Advisory Group increased its holdings in FedEx by 6.3% during the 2nd quarter. Csenge Advisory Group now owns 2,441 shares of the shipping service provider’s stock worth $732,000 after purchasing an additional 144 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in FedEx during the 2nd quarter worth approximately $22,052,000. OLD National Bancorp IN increased its holdings in FedEx by 13.2% during the 2nd quarter. OLD National Bancorp IN now owns 3,850 shares of the shipping service provider’s stock worth $1,154,000 after purchasing an additional 450 shares in the last quarter. Finally, Norway Savings Bank increased its holdings in FedEx by 8.0% during the 2nd quarter. Norway Savings Bank now owns 4,710 shares of the shipping service provider’s stock worth $1,412,000 after purchasing an additional 350 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FDX. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a report on Friday, September 20th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their target price on FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Up 0.2 %

Shares of NYSE:FDX opened at $283.32 on Thursday. The stock’s 50-day moving average price is $279.29 and its 200-day moving average price is $279.60. 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 $69.22 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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 company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the business posted $4.55 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. 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.