Physicians Financial Services Inc. Purchases 100 Shares of FedEx Co. (NYSE:FDX)

Physicians Financial Services Inc. lifted its position in shares of FedEx Co. (NYSE:FDX) by 1.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,152 shares of the shipping service provider’s stock after purchasing an additional 100 shares during the quarter. Physicians Financial Services Inc.’s holdings in FedEx were worth $1,957,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Capital International Investors increased its position in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. increased its holdings in FedEx by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after purchasing an additional 1,056,061 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 worth $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in shares of FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after buying an additional 161,022 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FDX. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Evercore ISI reduced their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. The Goldman Sachs Group dropped their target price on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Finally, Stephens reaffirmed an “overweight” rating and issued 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, nine have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Price Performance

NYSE:FDX traded up $2.05 during trading hours on Friday, hitting $285.26. The stock had a trading volume of 141,847 shares, compared to its average volume of 1,805,705. The firm has a market capitalization of $69.69 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.09 and a beta of 1.17. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a 50 day simple moving average of $275.86 and a two-hundred day simple moving average of $275.26. 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 posted 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). The business 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%. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.55 earnings per share. Research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.94%. FedEx’s dividend payout ratio is presently 34.05%.

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.