Kovitz Investment Group Partners LLC Has $17.84 Million Position in FedEx Co. (NYSE:FDX)

Kovitz Investment Group Partners LLC raised its holdings in FedEx Co. (NYSE:FDX) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,898 shares of the shipping service provider’s stock after purchasing an additional 1,056 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in FedEx were worth $17,844,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 34 shares during the period. LRI Investments LLC raised its holdings in shares of FedEx by 8.6% in the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC raised its holdings in shares of FedEx by 0.5% in the 2nd 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 during the period. Detalus Advisors LLC raised its holdings in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of FedEx from $350.00 to $366.00 and gave the stock an “overweight” rating in a report on Tuesday. Loop Capital lowered their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Citigroup boosted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group lowered their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Finally, Susquehanna lowered their target price on shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Performance

NYSE FDX opened at $280.52 on Friday. The company has a 50-day simple moving average of $279.55 and a two-hundred day simple moving average of $279.60. 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 12-month low of $234.45 and a 12-month high of $313.84. The firm has a market cap of $68.54 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.18 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the company earned $4.55 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.97%. FedEx’s payout ratio is 34.05%.

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.