Waddell & Associates LLC Has $1.02 Million Stock Position in FedEx Co. (NYSE:FDX)

Waddell & Associates LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 9.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,735 shares of the shipping service provider’s stock after selling 383 shares during the period. Waddell & Associates LLC’s holdings in FedEx were worth $1,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP raised its position in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in FedEx by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after purchasing an additional 13,093 shares in the last quarter. Sentry LLC grew its holdings in shares of FedEx by 0.5% during the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after purchasing an additional 6,657 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of FedEx by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,056,561 shares of the shipping service provider’s stock valued at $306,129,000 after buying an additional 82,201 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Up 1.6 %

FDX opened at $299.97 on Friday. The firm’s fifty day simple moving average is $276.34 and its 200 day simple moving average is $277.42. The stock has a market capitalization of $73.29 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.23 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 Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.55 earnings per share. As a group, research analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research analyst reports. Stephens reissued an “overweight” rating and set a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Evercore ISI lowered their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Bank of America reduced their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Raymond James lowered their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

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.