FedEx Co. (NYSE:FDX) Stock Position Lifted by M&R Capital Management Inc.

M&R Capital Management Inc. grew its position in shares of FedEx Co. (NYSE:FDX) by 44.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,694 shares of the shipping service provider’s stock after buying an additional 7,334 shares during the period. FedEx comprises 1.4% of M&R Capital Management Inc.’s portfolio, making the stock its 21st largest position. M&R Capital Management Inc.’s holdings in FedEx were worth $6,485,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rafferty Asset Management LLC lifted its holdings in shares of FedEx by 6.3% in the 4th quarter. Rafferty Asset Management LLC now owns 22,649 shares of the shipping service provider’s stock worth $5,730,000 after purchasing an additional 1,346 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of FedEx by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 31,480 shares of the shipping service provider’s stock worth $7,963,000 after purchasing an additional 700 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in shares of FedEx in the 4th quarter worth approximately $411,000. Tower Research Capital LLC TRC lifted its holdings in shares of FedEx by 61.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 25,199 shares of the shipping service provider’s stock worth $6,375,000 after purchasing an additional 9,559 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of FedEx by 20.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after purchasing an additional 5,055 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE FDX opened at $266.93 on Thursday. 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 stock has a market capitalization of $65.69 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.04 and a beta of 1.17. The stock’s fifty day simple moving average is $286.13 and its 200 day simple moving average is $275.85. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results 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 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%. The business’s 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. As a group, sell-side analysts forecast that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.07%. FedEx’s dividend payout ratio is 32.04%.

Insider Activity

In other news, Director Marvin R. Ellison sold 2,535 shares of FedEx stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the transaction, the director now owns 6,955 shares in the company, valued at $2,081,909.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marvin R. Ellison sold 2,535 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $299.34, for a total value of $758,826.90. Following the completion of the transaction, the director now owns 6,955 shares in the company, valued at approximately $2,081,909.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,914 shares of company stock worth $3,978,338. 8.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Robert W. Baird lowered their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.74.

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.