Motley Fool Asset Management LLC Raises Position in FedEx Co. (NYSE:FDX)

Motley Fool Asset Management LLC boosted its stake in FedEx Co. (NYSE:FDX) by 2.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 9,833 shares of the shipping service provider’s stock after buying an additional 272 shares during the quarter. Motley Fool Asset Management LLC’s holdings in FedEx were worth $2,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of FDX. CWM LLC lifted its stake in FedEx by 8.5% in 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 lifted its stake in FedEx by 6.3% in 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 purchased a new position in FedEx in the 2nd quarter worth approximately $22,052,000. OLD National Bancorp IN lifted its stake in FedEx by 13.2% in 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 lifted its stake in FedEx by 8.0% in 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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Susquehanna decreased their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their price target on shares of FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, Robert W. Baird reduced their price target 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. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Performance

NYSE:FDX opened at $283.32 on Thursday. The company has a fifty day simple moving average of $279.29 and a two-hundred day simple moving average of $279.60. The company has a market cap of $69.22 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.24 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend 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.