PFG Investments LLC Buys 452 Shares of FedEx Co. (NYSE:FDX)

PFG Investments LLC grew its position in FedEx Co. (NYSE:FDX) by 9.8% during the third quarter, HoldingsChannel reports. The firm owned 5,084 shares of the shipping service provider’s stock after buying an additional 452 shares during the quarter. PFG Investments LLC’s holdings in FedEx were worth $1,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Central Valley Advisors LLC acquired a new position in FedEx during the 2nd quarter worth $39,000. Abound Wealth Management lifted its position in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC boosted its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. ORG Partners LLC acquired a new stake in FedEx in the 2nd quarter valued at approximately $50,000. Finally, TruNorth Capital Management LLC bought a new position in FedEx in the 2nd quarter worth approximately $56,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 0.3 %

Shares of FDX opened at $272.12 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market cap of $66.48 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.08 and a beta of 1.17. The stock has a fifty day moving average price of $278.83 and a two-hundred day moving average price of $274.81. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last released 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 net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the firm earned $4.55 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FDX shares. TD Cowen reduced their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. Robert W. Baird cut their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

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.