Geode Capital Management LLC Grows Position in FedEx Co. (NYSE:FDX)

Geode Capital Management LLC grew its stake in FedEx Co. (NYSE:FDX) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,689,791 shares of the shipping service provider’s stock after buying an additional 67,502 shares during the quarter. Geode Capital Management LLC owned approximately 1.92% of FedEx worth $1,281,335,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FDX. SeaCrest Wealth Management LLC boosted its holdings in FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC boosted its stake in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares during the period. Ascent Wealth Partners LLC grew its position in shares of FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC raised its stake in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC lifted its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.1 %

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

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 EPS. 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. 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 is presently 34.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on shares of FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Bernstein Bank increased their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.68.

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.