Solidarity Wealth LLC Boosts Stock Holdings in FedEx Co. (NYSE:FDX)

Solidarity Wealth LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 56.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,123 shares of the shipping service provider’s stock after purchasing an additional 7,632 shares during the period. FedEx accounts for approximately 1.6% of Solidarity Wealth LLC’s portfolio, making the stock its 23rd largest holding. Solidarity Wealth LLC’s holdings in FedEx were worth $5,800,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. JFS Wealth Advisors LLC grew its stake in shares of FedEx by 2,102.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,048 shares of the shipping service provider’s stock worth $560,000 after acquiring an additional 1,955 shares during the period. Pinnacle Associates Ltd. lifted its holdings in FedEx by 1.9% during the third quarter. Pinnacle Associates Ltd. now owns 97,091 shares of the shipping service provider’s stock valued at $24,561,000 after purchasing an additional 1,764 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in FedEx by 7.4% during the third quarter. First Trust Direct Indexing L.P. now owns 8,320 shares of the shipping service provider’s stock worth $2,277,000 after purchasing an additional 574 shares during the period. Evermay Wealth Management LLC increased its stake 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 worth $26,000 after purchasing an additional 40 shares in the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in shares of FedEx in the third quarter valued at approximately $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 0.3 %

NYSE:FDX opened at $274.30 on Thursday. The firm has a 50-day simple moving average of $277.96 and a two-hundred day simple moving average of $274.91. The firm has a market cap of $67.02 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.08 and a beta of 1.17. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 previous year, the firm earned $4.55 earnings per share. FedEx’s revenue was down .5% on a year-over-year basis. Analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.01%. FedEx’s payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup initiated coverage on shares of FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price objective for the company. TD Cowen reduced their price target on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Raymond James dropped their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Finally, Stifel Nicolaus lowered their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.17.

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.