FedEx Corporation $FDX Position Increased by CX Institutional

CX Institutional increased its holdings in FedEx Corporation (NYSE:FDX) by 839.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 37,056 shares of the shipping service provider’s stock after acquiring an additional 33,113 shares during the quarter. CX Institutional’s holdings in FedEx were worth $10,564,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. First Nebraska Trust Co acquired a new position in FedEx in the first quarter worth about $10,675,000. OMERS ADMINISTRATION Corp raised its stake in FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock valued at $6,169,000 after buying an additional 8,868 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in FedEx by 48.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 63,855 shares of the shipping service provider’s stock worth $18,445,000 after buying an additional 20,940 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of FedEx by 74.1% in the 2nd quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider’s stock worth $10,757,000 after acquiring an additional 14,624 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its holdings in shares of FedEx by 39.5% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 12,926 shares of the shipping service provider’s stock valued at $3,734,000 after acquiring an additional 3,661 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FDX shares. Raymond James Financial set a $330.00 price objective on FedEx in a research note on Friday, August 28th. Weiss Ratings downgraded shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a report on Wednesday, June 24th. BNP Paribas Exane boosted their price objective on shares of FedEx from $269.80 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of FedEx to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.72.

FedEx Stock Performance

NYSE FDX traded up $3.42 on Friday, hitting $290.49. The stock had a trading volume of 1,462,673 shares, compared to its average volume of 2,066,047. The company’s 50-day moving average is $314.00 and its two-hundred day moving average is $338.86. FedEx Corporation has a one year low of $179.69 and a one year high of $345.36. The stock has a market cap of $68.75 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.52 and a beta of 1.28. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. On average, analysts expect that FedEx Corporation will post 17.55 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, September 14th. FedEx’s payout ratio is 26.36%.

About FedEx

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.