Wahed Invest LLC Boosts Stake in FedEx Co. (NYSE:FDX)

Wahed Invest LLC raised its position in FedEx Co. (NYSE:FDX) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,498 shares of the shipping service provider’s stock after buying an additional 403 shares during the period. Wahed Invest LLC’s holdings in FedEx were worth $1,505,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. International Assets Investment Management LLC increased its stake in FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of FedEx by 34.6% during 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 acquiring an additional 578,350 shares during the period. Ceredex Value Advisors LLC grew its position in shares of FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after acquiring an additional 161,022 shares during the period. Empyrean Capital Partners LP bought a new position in shares of FedEx during the 2nd quarter valued at approximately $46,475,000. Finally, Interval Partners LP grew its position in shares of FedEx by 408.3% during the 2nd quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock valued at $57,296,000 after acquiring an additional 153,497 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $279.53 on Friday. The firm’s fifty day moving average price is $279.55 and its 200-day moving average price is $279.60. 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 stock has a market cap of $68.30 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $4.55 EPS. On average, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal 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 given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FDX shares. Raymond James reduced their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. increased their target price on shares of FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a research report on Tuesday. Bernstein Bank increased their target price on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $316.68.

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.