DiNuzzo Private Wealth Inc. Acquires 692 Shares of FedEx Co. (NYSE:FDX)

DiNuzzo Private Wealth Inc. increased its holdings in shares of FedEx Co. (NYSE:FDX) by 2,661.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 718 shares of the shipping service provider’s stock after purchasing an additional 692 shares during the quarter. DiNuzzo Private Wealth Inc.’s holdings in FedEx were worth $197,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Capital International Investors increased its stake in FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Vanguard Group Inc. grew its position in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Mawer Investment Management Ltd. increased 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 worth $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the period. Finally, Empyrean Capital Partners LP bought a new position in FedEx in the second quarter valued at approximately $46,475,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FDX shares. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Bernstein Bank increased their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 price target on shares of FedEx in a report on Friday, September 20th. 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. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Up 0.9 %

FDX stock opened at $274.33 on Friday. The company has a market cap of $67.51 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. 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 52 week low of $224.69 and a 52 week high of $313.84. The business has a 50-day simple moving average of $280.16 and a 200 day simple moving average of $275.04.

FedEx (NYSE:FDX) last issued 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). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $4.55 EPS. Sell-side analysts anticipate that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Dividend Announcement

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

About FedEx

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.