FedEx Co. (NYSE:FDX) Shares Bought by LRI Investments LLC

LRI Investments LLC grew its position in FedEx Co. (NYSE:FDX) by 45.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664 shares of the shipping service provider’s stock after purchasing an additional 209 shares during the quarter. LRI Investments LLC’s holdings in FedEx were worth $194,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in FedEx by 17.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,898 shares of the shipping service provider’s stock worth $13,162,000 after purchasing an additional 6,390 shares in the last quarter. ORG Partners LLC purchased a new stake in FedEx in the second quarter valued at $50,000. GPS Wealth Strategies Group LLC lifted its position in FedEx by 6.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 710 shares of the shipping service provider’s stock valued at $213,000 after acquiring an additional 45 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in FedEx by 14.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 20,394 shares of the shipping service provider’s stock valued at $6,115,000 after acquiring an additional 2,614 shares in the last quarter. Finally, Corundum Group Inc. increased its position in shares of FedEx by 44.5% during the second quarter. Corundum Group Inc. now owns 5,837 shares of the shipping service provider’s stock worth $1,750,000 after purchasing an additional 1,797 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus lowered their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Raymond James cut their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Evercore ISI decreased their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Finally, Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $316.68.

FedEx Stock Down 0.1 %

FDX stock opened at $279.29 on Wednesday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market cap of $68.24 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.17 and a beta of 1.18. The company’s 50-day moving average price is $279.93 and its 200 day moving average price is $280.38.

FedEx (NYSE:FDX) last announced its quarterly 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 firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the firm earned $4.55 EPS. FedEx’s revenue was down .5% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

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.