Wilmington Savings Fund Society FSB Purchases 3,078 Shares of FedEx Co. (NYSE:FDX)

Wilmington Savings Fund Society FSB lifted its position in shares of FedEx Co. (NYSE:FDX) by 42.2% in the third quarter, HoldingsChannel reports. The fund owned 10,372 shares of the shipping service provider’s stock after buying an additional 3,078 shares during the period. Wilmington Savings Fund Society FSB’s holdings in FedEx were worth $2,839,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% during the 3rd 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 during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of FedEx during the 3rd quarter worth approximately $31,000. Abound Wealth Management raised its stake in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in FedEx in the third quarter valued at approximately $47,000. 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. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. TD Cowen cut their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Barclays boosted their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

FedEx Price Performance

Shares of FDX opened at $283.34 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a market capitalization of $69.23 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a 50 day moving average of $281.30 and a 200-day moving average of $280.87.

FedEx (NYSE:FDX) last released its earnings results 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 net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the business posted $4.55 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.95%. FedEx’s payout ratio is presently 34.05%.

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.