Pacific Sage Partners LLC Increases Stake in FedEx Co. (NYSE:FDX)

Pacific Sage Partners LLC increased its holdings in shares of FedEx Co. (NYSE:FDX) by 9.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,156 shares of the shipping service provider’s stock after buying an additional 100 shares during the period. Pacific Sage Partners LLC’s holdings in FedEx were worth $316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx during the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC acquired a new position in FedEx during the 2nd quarter worth approximately $39,000. Abound Wealth Management boosted its holdings in shares of 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 in the last quarter. Finally, Sachetta LLC boosted its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

FDX opened at $274.09 on Friday. The company’s 50 day simple moving average is $277.56 and its 200 day simple moving average is $274.90. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock has a market capitalization of $66.97 billion, a PE ratio of 16.91, a P/E/G ratio of 1.10 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the business posted $4.55 earnings per share. FedEx’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FDX. Raymond James decreased their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group cut their price objective on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. TD Cowen cut their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” 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 price target for the company. in a report on Friday, September 20th. Finally, Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price 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.