FedEx Co. (NYSE:FDX) Shares Bought by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of FedEx Co. (NYSE:FDX) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,419 shares of the shipping service provider’s stock after acquiring an additional 1,232 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in FedEx were worth $6,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FDX. Grimes & Company Inc. increased its position in FedEx by 10.2% during the 3rd quarter. Grimes & Company Inc. now owns 963 shares of the shipping service provider’s stock worth $264,000 after purchasing an additional 89 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its position in FedEx by 1.9% in the third quarter. Beese Fulmer Investment Management Inc. now owns 7,843 shares of the shipping service provider’s stock valued at $2,146,000 after acquiring an additional 146 shares in the last quarter. Romano Brothers AND Company grew its position in FedEx by 2.5% in the third quarter. Romano Brothers AND Company now owns 35,660 shares of the shipping service provider’s stock valued at $9,759,000 after acquiring an additional 861 shares in the last quarter. International Assets Investment Management LLC grew its position in FedEx by 473.8% in the third 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 acquiring an additional 647,926 shares in the last quarter. Finally, Lake Street Private Wealth LLC grew its position in FedEx by 2.2% in the third quarter. Lake Street Private Wealth LLC now owns 13,777 shares of the shipping service provider’s stock valued at $3,770,000 after acquiring an additional 297 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FDX. Stifel Nicolaus lowered their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Evercore ISI dropped their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Performance

Shares of NYSE FDX traded up $3.51 during trading hours on Thursday, reaching $271.56. The stock had a trading volume of 481,456 shares, compared to its average volume of 1,833,708. The business’s fifty day moving average is $279.32 and its two-hundred day moving average is $274.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market cap of $66.83 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.06 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the company earned $4.55 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, research analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

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.