Rossmore Private Capital Purchases 300 Shares of FedEx Co. (NYSE:FDX)

Rossmore Private Capital raised its position in FedEx Co. (NYSE:FDX) by 22.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,619 shares of the shipping service provider’s stock after purchasing an additional 300 shares during the quarter. Rossmore Private Capital’s holdings in FedEx were worth $443,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FDX. Atomi Financial Group Inc. bought a new position in shares of FedEx in the first quarter valued at approximately $245,000. ProShare Advisors LLC raised its stake in shares of FedEx by 16.8% in the first quarter. ProShare Advisors LLC now owns 35,979 shares of the shipping service provider’s stock valued at $10,425,000 after acquiring an additional 5,186 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in shares of FedEx by 13.2% in the first quarter. Koshinski Asset Management Inc. now owns 1,548 shares of the shipping service provider’s stock valued at $448,000 after acquiring an additional 180 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of FedEx by 1.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 257,755 shares of the shipping service provider’s stock valued at $74,682,000 after acquiring an additional 3,994 shares during the last quarter. Finally, Texas Yale Capital Corp. bought a new position in shares of FedEx in the first quarter valued at approximately $381,000. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FDX. Stephens reiterated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Loop Capital dropped their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Susquehanna dropped their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. TD Cowen dropped 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Two equities 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $315.42.

FedEx Price Performance

Shares of FDX stock opened at $287.32 on Wednesday. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The firm has a market capitalization of $70.20 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth 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. The firm has a fifty day moving average of $275.05 and a 200-day moving average of $275.84.

FedEx (NYSE:FDX) last announced its 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). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 earnings per share. On average, equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is presently 34.05%.

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.