Opal Wealth Advisors LLC Raises Stock Position in FedEx Co. (NYSE:FDX)

Opal Wealth Advisors LLC grew its stake in FedEx Co. (NYSE:FDX) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,321 shares of the shipping service provider’s stock after purchasing an additional 254 shares during the quarter. Opal Wealth Advisors LLC’s holdings in FedEx were worth $635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings 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 buying an additional 1,056,061 shares during the last quarter. Capital International Investors boosted 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 acquiring an additional 2,163,622 shares during the last quarter. Mawer Investment Management Ltd. increased its position in shares of FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Ameriprise Financial Inc. raised its stake in FedEx by 34.6% in the 2nd 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. BMO Capital Markets cut their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Susquehanna lowered their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. Finally, Raymond James lowered their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Trading Down 0.6 %

FDX opened at $265.92 on Wednesday. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $280.37 and a 200-day simple moving average of $275.07. The firm has a market cap of $65.44 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.06 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the company earned $4.55 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts expect that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

Insider Activity

In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.73% of the company’s stock.

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.