Raymond James & Associates Buys 31,241 Shares of FedEx Co. (NYSE:FDX)

Raymond James & Associates grew its position in FedEx Co. (NYSE:FDX) by 6.9% during the third quarter, HoldingsChannel reports. The firm owned 485,698 shares of the shipping service provider’s stock after buying an additional 31,241 shares during the quarter. Raymond James & Associates’ holdings in FedEx were worth $132,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FDX. Capital International Investors increased its position in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the period. Vanguard Group Inc. increased its position in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Mawer Investment Management Ltd. raised its stake in FedEx by 43.5% during the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings 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 purchasing an additional 578,350 shares during the period. Finally, Empyrean Capital Partners LP acquired a new stake in FedEx in the 2nd quarter worth $46,475,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FDX. Citigroup began coverage on shares of FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 target price for the company. Bernstein Bank lifted their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Wells Fargo & Company upped their target price on FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Stifel Nicolaus decreased their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Morgan Stanley cut shares of 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $314.17.

FedEx Trading Up 0.1 %

NYSE FDX opened at $274.40 on Friday. 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 Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a market capitalization of $67.52 billion, a PE ratio of 15.93, a P/E/G ratio of 1.06 and a beta of 1.17. The stock has a 50-day simple moving average of $280.10 and a 200 day simple moving average of $275.00.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. 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 previous year, the business earned $4.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Research analysts forecast that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

FedEx Company 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.