Mendel Capital Management LLC Purchases 108 Shares of FedEx Co. (NYSE:FDX)

Mendel Capital Management LLC grew its position in FedEx Co. (NYSE:FDX) by 2.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,249 shares of the shipping service provider’s stock after acquiring an additional 108 shares during the period. FedEx accounts for approximately 0.9% of Mendel Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. Mendel Capital Management LLC’s holdings in FedEx were worth $1,436,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FDX. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in shares of FedEx during the 3rd quarter worth about $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the 2nd quarter worth about $39,000. Abound Wealth Management lifted its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in FedEx in the 3rd quarter valued at about $47,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FDX. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research report on Friday, September 20th. BMO Capital Markets dropped their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Susquehanna dropped their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Barclays lifted their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group dropped their target price on shares of FedEx from $333.00 to $332.00 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 eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Price Performance

Shares of NYSE FDX opened at $294.46 on Monday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. 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’s 50-day moving average is $275.40 and its 200 day moving average is $276.48. The stock has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.23 and a beta of 1.17.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is currently 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.