FedEx Co. (NYSE:FDX) is Vishria Bird Financial Group LLC’s Largest Position

Vishria Bird Financial Group LLC raised its position in FedEx Co. (NYSE:FDX) by 18.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,139 shares of the shipping service provider’s stock after purchasing an additional 14,879 shares during the period. FedEx accounts for 9.9% of Vishria Bird Financial Group LLC’s investment portfolio, making the stock its biggest position. Vishria Bird Financial Group LLC’s holdings in FedEx were worth $26,038,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Evermay Wealth Management LLC grew its stake 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 buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of FedEx in the 3rd quarter worth about $31,000. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter worth about $39,000. Abound Wealth Management increased its position in 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 buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of FedEx in the 3rd quarter worth about $47,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

NYSE:FDX opened at $294.46 on Friday. The stock has a 50 day moving average of $275.40 and a two-hundred day moving average of $276.27. 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 $71.94 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued 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). The firm had revenue of $21.58 billion for 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 firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.55 earnings per share. On average, analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. FedEx’s dividend payout ratio is presently 34.05%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FDX shares. Evercore ISI decreased their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Friday, September 20th. TD Cowen lowered their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Loop Capital cut their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.