Kovack Advisors Inc. Has $1.16 Million Stock Position in FedEx Co. (NYSE:FDX)

Kovack Advisors Inc. raised its position in FedEx Co. (NYSE:FDX) by 186.4% in the third quarter, HoldingsChannel reports. The fund owned 4,222 shares of the shipping service provider’s stock after purchasing an additional 2,748 shares during the quarter. Kovack Advisors Inc.’s holdings in FedEx were worth $1,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC raised its holdings in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the last quarter. LRI Investments LLC raised its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC boosted its position in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after buying an additional 37 shares during the last quarter. Finally, Sachetta LLC grew its holdings in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FDX. TD Cowen cut their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Bank of America cut their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday. Susquehanna cut their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Finally, BMO Capital Markets decreased their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Trading Up 1.7 %

NYSE:FDX opened at $292.08 on Thursday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock’s fifty day moving average price is $275.05 and its two-hundred day moving average price is $275.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market cap of $71.36 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.15 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS 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 company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the business earned $4.55 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is presently 34.05%.

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.