Hofer & Associates. Inc Makes New $205,000 Investment in FedEx Co. (NYSE:FDX)

Hofer & Associates. Inc acquired a new stake in shares of FedEx Co. (NYSE:FDX) in the third quarter, HoldingsChannel.com reports. The fund acquired 747 shares of the shipping service provider’s stock, valued at approximately $205,000.

Other hedge funds have also bought and sold shares of the company. Central Valley Advisors LLC purchased a new stake in FedEx in the 2nd quarter worth $39,000. Abound Wealth Management grew its position in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Sachetta LLC raised its stake in 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 purchasing an additional 37 shares during the period. ORG Partners LLC purchased a new position in FedEx in the 2nd quarter worth approximately $50,000. Finally, TruNorth Capital Management LLC bought a new position in FedEx in the 2nd quarter worth approximately $56,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

FDX stock traded up $2.11 during trading on Tuesday, hitting $270.92. 459,666 shares of the company traded hands, compared to its average volume of 1,841,162. The company has a market cap of $66.67 billion, a PE ratio of 15.55, a P/E/G ratio of 1.06 and a beta of 1.17. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84. The stock’s 50-day simple moving average is $279.89 and its 200 day simple moving average is $274.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $4.55 earnings per share. On average, equities analysts expect that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

FDX has been the topic of several research analyst reports. 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 report on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Citigroup assumed coverage on FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price objective on the stock. Finally, Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.17.

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.