Exchange Traded Concepts LLC Takes Position in FedEx Co. (NYSE:FDX)

Exchange Traded Concepts LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 353 shares of the shipping service provider’s stock, valued at approximately $97,000.

Other large investors also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC boosted its holdings in FedEx by 1.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 6,326 shares of the shipping service provider’s stock valued at $1,833,000 after acquiring an additional 100 shares during the last quarter. Future Financial Wealth Managment LLC grew its holdings in shares of FedEx by 23.4% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,790 shares of the shipping service provider’s stock worth $519,000 after purchasing an additional 340 shares during the period. St. Johns Investment Management Company LLC increased its position in shares of FedEx by 2.0% in the first quarter. St. Johns Investment Management Company LLC now owns 3,487 shares of the shipping service provider’s stock worth $1,010,000 after acquiring an additional 69 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its position in FedEx by 28.1% in the first quarter. Matrix Asset Advisors Inc. NY now owns 50,349 shares of the shipping service provider’s stock valued at $14,588,000 after purchasing an additional 11,046 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its holdings in shares of FedEx by 7.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,924 shares of the shipping service provider’s stock valued at $558,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FDX. Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note 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 on the stock in a research note on Friday, September 20th. Finally, Argus raised their price objective on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Price Performance

NYSE FDX opened at $269.79 on Wednesday. The company has a 50-day moving average price of $279.63 and a two-hundred day moving average price of $274.90. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The stock has a market cap of $66.39 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. 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 issued 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). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.55 earnings per share. Analysts forecast that FedEx Co. will post 19.6 EPS 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 given a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.05%. FedEx’s dividend payout ratio is presently 32.04%.

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.