Wharton Business Group LLC Acquires 75 Shares of FedEx Co. (NYSE:FDX)

Wharton Business Group LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 0.4% during the third quarter, HoldingsChannel.com reports. The fund owned 18,336 shares of the shipping service provider’s stock after buying an additional 75 shares during the quarter. Wharton Business Group LLC’s holdings in FedEx were worth $5,018,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Evermay Wealth Management LLC raised its holdings in shares of FedEx by 72.7% during 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 purchased a new stake in FedEx in the 3rd quarter valued at about $31,000. Central Valley Advisors LLC purchased a new stake in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management grew its position in shares of 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 acquiring an additional 95 shares during the period. Finally, Sachetta LLC grew its position in shares of 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 acquiring an additional 37 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $294.00 on Monday. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The firm has a market capitalization of $71.83 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17. The company has a fifty day simple moving average of $275.40 and a 200-day simple moving average of $276.48. 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 (NYSE:FDX) last announced its quarterly earnings data 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 firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the company posted $4.55 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.88%. FedEx’s dividend payout ratio is currently 34.05%.

Analyst Upgrades and Downgrades

FDX has been the subject of several analyst reports. Stifel Nicolaus cut their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. TD Cowen lowered their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Barclays boosted their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Raymond James lowered their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note 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. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average price target of $316.04.

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.