FedEx Co. (NYSE:FDX) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. increased its position in shares of FedEx Co. (NYSE:FDX) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,415 shares of the shipping service provider’s stock after purchasing an additional 1,787 shares during the quarter. D.A. Davidson & CO.’s holdings in FedEx were worth $9,693,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its position in shares of FedEx by 72.7% in 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 FedEx during the 3rd quarter valued at about $31,000. Central Valley Advisors LLC acquired a new stake in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management lifted its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Sachetta LLC boosted its holdings in shares of FedEx by 29.1% during 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 last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Down 0.7 %

Shares of NYSE FDX opened at $302.95 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a market cap of $74.02 billion, a P/E ratio of 18.69, a PEG ratio of 1.27 and a beta of 1.17. The business’s fifty day simple moving average is $276.70 and its 200-day simple moving average is $278.25. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.82%. FedEx’s payout ratio is currently 34.05%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their price objective on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and set a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. Finally, Loop Capital lowered 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 given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Company 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.