Empirical Finance LLC Has $2.20 Million Position in FedEx Co. (NYSE:FDX)

Empirical Finance LLC grew its holdings in FedEx Co. (NYSE:FDX) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,044 shares of the shipping service provider’s stock after buying an additional 156 shares during the quarter. Empirical Finance LLC’s holdings in FedEx were worth $2,201,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in FDX. Evermay Wealth Management LLC raised its stake in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of FedEx during the 3rd quarter worth about $31,000. Central Valley Advisors LLC bought a new position in FedEx during the 2nd quarter valued at about $39,000. Abound Wealth Management boosted its position in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in FedEx during the third quarter worth about $47,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FDX stock opened at $294.46 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. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The firm has a fifty day moving average of $275.40 and a 200-day moving average of $276.27. The firm has a market capitalization of $71.94 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX) last posted 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the firm posted $4.55 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s payout ratio is currently 34.05%.

Analysts Set New Price Targets

Several brokerages have recently commented on FDX. UBS Group reduced their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. The Goldman Sachs Group reduced their price objective on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $316.04.

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.