FedEx Co. (NYSE:FDX) Shares Acquired by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. boosted its position in FedEx Co. (NYSE:FDX) by 43.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 11,111 shares of the shipping service provider’s stock after purchasing an additional 3,353 shares during the period. Weatherly Asset Management L. P.’s holdings in FedEx were worth $3,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC acquired a new stake in FedEx in the 2nd quarter worth about $39,000. Abound Wealth Management grew its holdings in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Finally, Sachetta LLC increased its stake in shares of 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 acquiring an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 0.2 %

Shares of NYSE:FDX opened at $274.34 on Friday. The company’s 50-day moving average price is $277.10 and its 200 day moving average price is $274.96. The company has a market cap of $67.03 billion, a PE ratio of 16.92, a P/E/G ratio of 1.10 and a beta of 1.17. 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 fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last released its 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the business posted $4.55 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s payout ratio is currently 34.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FDX shares. Loop Capital lowered their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Susquehanna decreased their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Friday, September 20th. TD Cowen decreased their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. 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 stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

About FedEx

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.