FedEx Co. (NYSE:FDX) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 39.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,345 shares of the shipping service provider’s stock after acquiring an additional 16,931 shares during the period. Cerity Partners LLC’s holdings in FedEx were worth $16,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FDX. SeaCrest Wealth Management LLC raised its position in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC increased its position in FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after buying an additional 36 shares in the last quarter. Ascent Wealth Partners LLC raised its holdings in shares of FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC lifted its position in shares of FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after acquiring an additional 37 shares in the last quarter. Finally, Sachetta LLC boosted its stake in shares of FedEx by 29.1% during 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. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.6 %

Shares of NYSE FDX opened at $304.86 on Tuesday. The stock has a fifty day moving average price of $276.59 and a 200 day moving average price of $277.98. 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 company has a market cap of $74.48 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.25 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.55 earnings per share. Research analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.81%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FDX shares. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Bernstein Bank boosted their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Stifel Nicolaus decreased their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, UBS Group decreased their price objective on FedEx from $333.00 to $311.00 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 assigned a buy rating to the company. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

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.