Ballentine Partners LLC Raises Stake in FedEx Co. (NYSE:FDX)

Ballentine Partners LLC lifted its stake in shares of FedEx Co. (NYSE:FDX) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,619 shares of the shipping service provider’s stock after acquiring an additional 126 shares during the period. Ballentine Partners LLC’s holdings in FedEx were worth $3,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Central Valley Advisors LLC acquired a new position in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management lifted its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Sachetta LLC grew its position in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the period. ORG Partners LLC acquired a new stake in FedEx during the second quarter worth $50,000. Finally, TruNorth Capital Management LLC purchased a new stake in FedEx in the second quarter valued at $56,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BMO Capital Markets lowered their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a 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 for the company in a research note on Friday, September 20th. UBS Group reduced their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Finally, Evercore ISI cut their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Up 1.8 %

Shares of NYSE:FDX opened at $272.87 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 firm has a 50 day simple moving average of $279.32 and a 200-day simple moving average of $274.85. The company has a market capitalization of $67.15 billion, a PE ratio of 15.84, a P/E/G ratio of 1.06 and a beta of 1.17. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data 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 company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the company earned $4.55 EPS. The business’s revenue was down .5% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

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.