Live Oak Investment Partners Acquires 142 Shares of FedEx Co. (NYSE:FDX)

Live Oak Investment Partners lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,347 shares of the shipping service provider’s stock after acquiring an additional 142 shares during the period. FedEx makes up 1.6% of Live Oak Investment Partners’ holdings, making the stock its 16th biggest holding. Live Oak Investment Partners’ holdings in FedEx were worth $2,011,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank lifted its stake in shares of FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new stake in shares of FedEx during the 2nd quarter valued at approximately $9,226,000. Raymond James & Associates lifted its stake in shares of FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after buying an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of FedEx during the 2nd quarter valued at approximately $22,052,000. Finally, Philip James Wealth Mangement LLC purchased a new stake in shares of FedEx during the 3rd quarter valued at approximately $6,905,000. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

Shares of FDX stock opened at $287.32 on Wednesday. The company has a 50 day moving average price of $275.18 and a 200-day moving average price of $275.69. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The firm has a market capitalization of $70.20 billion, a PE ratio of 17.72, a P/E/G ratio of 1.16 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 (NYSE:FDX) last posted its quarterly earnings data 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the business posted $4.55 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FDX. Citigroup upped their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Robert W. Baird decreased their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Bank of America decreased their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Stephens reaffirmed an “overweight” rating and set a $350.00 target price on shares of FedEx in a 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. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $315.42.

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.