Blueshift Asset Management LLC Invests $404,000 in FedEx Co. (NYSE:FDX)

Blueshift Asset Management LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,477 shares of the shipping service provider’s stock, valued at approximately $404,000.

A number of other hedge funds have also bought and sold shares of the business. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx during the third quarter valued at about $31,000. Central Valley Advisors LLC purchased a new stake in FedEx during the second quarter worth about $39,000. Abound Wealth Management raised its position in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the period. Finally, Sachetta LLC boosted its stake in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FDX opened at $303.39 on Friday. 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 50-day moving average price of $276.86 and a 200-day moving average price of $278.60. The company has a market cap of $74.13 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. 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 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 company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the company earned $4.55 EPS. FedEx’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FDX. BMO Capital Markets decreased their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group lowered their target price on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Stephens reiterated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Susquehanna dropped their price objective 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx 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.