Jade Capital Advisors LLC Makes New Investment in FedEx Co. (NYSE:FDX)

Jade Capital Advisors LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,000 shares of the shipping service provider’s stock, valued at approximately $1,368,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Capital International Investors increased its holdings in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Mawer Investment Management Ltd. raised its position in shares of FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after purchasing an additional 684,679 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. UBS Group lowered their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Argus raised their target price on FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Loop Capital decreased their price target on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Trading Down 2.1 %

Shares of FedEx stock opened at $268.73 on Tuesday. The stock has a market capitalization of $66.13 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.06 and a beta of 1.17. FedEx Co. has a 52-week low of $224.69 and a 52-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. The stock’s 50-day simple moving average is $279.89 and its 200 day simple moving average is $274.93.

FedEx (NYSE:FDX) last posted its quarterly earnings results 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). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. During the same period last year, the firm earned $4.55 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts anticipate that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

About FedEx

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.