Princeton Global Asset Management LLC Buys 296 Shares of FedEx Co. (NYSE:FDX)

Princeton Global Asset Management LLC boosted its stake in FedEx Co. (NYSE:FDX) by 59.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796 shares of the shipping service provider’s stock after buying an additional 296 shares during the quarter. Princeton Global Asset Management LLC’s holdings in FedEx were worth $218,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Evermay Wealth Management LLC boosted its stake in shares of 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 in the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the second quarter worth approximately $39,000. Abound Wealth Management raised its stake in shares of 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. Finally, Sachetta LLC boosted its holdings in shares of FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FDX opened at $274.35 on Monday. 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. The firm has a fifty day simple moving average of $277.10 and a 200 day simple moving average of $275.11. The stock has a market capitalization of $67.03 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.10 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data 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). The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.55 earnings per share. Research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FDX. Robert W. Baird cut their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. UBS Group lowered their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Raymond James reduced their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.