Shum Financial Group Inc. Takes Position in FedEx Co. (NYSE:FDX)

Shum Financial Group Inc. purchased a new stake in shares of FedEx Co. (NYSE:FDX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,901 shares of the shipping service provider’s stock, valued at approximately $799,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ameriprise Financial Inc. grew its stake in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after buying an additional 121,240 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after buying an additional 13,093 shares during the last quarter. Sentry LLC grew its stake in FedEx by 0.5% in the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock valued at $365,626,000 after buying an additional 6,657 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FDX. Loop Capital lowered their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. TD Cowen decreased their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bernstein Bank raised their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Barclays raised their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

FDX stock traded down $3.78 during trading on Tuesday, hitting $301.37. 135,982 shares of the stock traded hands, compared to its average volume of 1,795,536. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The stock has a market cap of $73.63 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 1.25 and a beta of 1.17. The company has a 50 day simple moving average of $276.59 and a 200 day simple moving average of $277.98. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

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 the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, December 9th. FedEx’s dividend 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.