FedEx Co. (NYSE:FDX) Shares Bought by Aviance Capital Partners LLC

Aviance Capital Partners LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,926 shares of the shipping service provider’s stock after acquiring an additional 281 shares during the period. Aviance Capital Partners LLC’s holdings in FedEx were worth $2,443,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares during the period. Magnolia Capital Advisors LLC acquired a new position in FedEx during the second quarter worth approximately $9,226,000. Raymond James & Associates raised its stake in FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after purchasing an additional 31,241 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of FedEx in the 2nd quarter valued at $22,052,000. Finally, Versor Investments LP purchased a new stake in shares of FedEx during the 3rd quarter valued at $2,096,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Up 0.3 %

NYSE:FDX opened at $295.21 on Tuesday. The stock has a 50-day simple moving average of $275.64 and a 200 day simple moving average of $276.71. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a market capitalization of $72.13 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $4.55 earnings per share. Sell-side analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analysts Set New Price Targets

Several brokerages recently weighed in on FDX. Bernstein Bank increased their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird dropped their target price 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. Loop Capital reduced their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Finally, Bank of America cut their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

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.