FedEx Co. (NYSE:FDX) Stock Position Increased by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC increased its stake in FedEx Co. (NYSE:FDX) by 77.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 368,107 shares of the shipping service provider’s stock after buying an additional 161,022 shares during the period. FedEx accounts for about 2.0% of Ceredex Value Advisors LLC’s holdings, making the stock its 5th largest holding. Ceredex Value Advisors LLC owned 0.15% of FedEx worth $101,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Evermay Wealth Management LLC grew its stake in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the 3rd quarter valued at $31,000. Central Valley Advisors LLC purchased a new stake in FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management boosted its stake in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the topic of several recent analyst reports. Loop Capital cut their target price on 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 cut their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Bank of America dropped their price target on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Citigroup initiated coverage on FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

NYSE:FDX opened at $274.34 on Friday. 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 business’s 50-day simple moving average is $277.10 and its two-hundred day simple moving average is $274.96. The stock has a market cap of $67.03 billion, a PE ratio of 16.92, a P/E/G ratio of 1.10 and a beta of 1.17. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.55 earnings per share. As a group, analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s payout ratio is 34.05%.

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.