Geode Capital Management LLC Acquires 67,502 Shares of FedEx Co. (NYSE:FDX)

Geode Capital Management LLC increased its holdings in FedEx Co. (NYSE:FDX) by 1.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,689,791 shares of the shipping service provider’s stock after buying an additional 67,502 shares during the period. Geode Capital Management LLC’s holdings in FedEx were worth $1,281,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Evermay Wealth Management LLC lifted its position in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the third quarter valued at approximately $31,000. Abound Wealth Management boosted its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Sachetta LLC grew its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of FedEx during the second quarter worth $50,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.1 %

NYSE FDX opened at $279.29 on Wednesday. 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. The business’s fifty day simple moving average is $279.93 and its 200-day simple moving average is $280.38. The firm has a market cap of $68.24 billion, a PE ratio of 17.23, a P/E/G ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its earnings results 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.98%. FedEx’s dividend payout ratio (DPR) is 34.05%.

Analyst Upgrades and Downgrades

FDX has been the topic of several recent analyst reports. StockNews.com lowered FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Barclays upped their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets lowered their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group cut their price target on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Finally, HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

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.