Lake Street Advisors Group LLC Grows Stake in FedEx Co. (NYSE:FDX)

Lake Street Advisors Group LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,250 shares of the shipping service provider’s stock after acquiring an additional 46 shares during the quarter. Lake Street Advisors Group LLC’s holdings in FedEx were worth $619,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FDX. Wealthcare Advisory Partners LLC increased its holdings in FedEx by 7.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,924 shares of the shipping service provider’s stock valued at $558,000 after buying an additional 137 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of FedEx by 6.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,508 shares of the shipping service provider’s stock worth $10,868,000 after purchasing an additional 2,241 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in FedEx by 4.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,522 shares of the shipping service provider’s stock worth $441,000 after purchasing an additional 60 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in FedEx during the first quarter valued at $277,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in FedEx by 20.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,564 shares of the shipping service provider’s stock valued at $1,322,000 after purchasing an additional 785 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $272.12 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. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The stock has a market cap of $66.96 billion, a PE ratio of 15.79, a P/E/G ratio of 1.06 and a beta of 1.17. The company has a 50-day moving average price of $279.10 and a 200 day moving average price of $274.84.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.03%. FedEx’s dividend payout ratio is presently 32.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Bernstein Bank lifted their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Friday, September 20th. Citigroup began coverage on shares of FedEx in a research report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price objective on the stock. BMO Capital Markets dropped their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Finally, UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average target price of $314.17.

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.