Tectonic Advisors LLC Raises Holdings in FedEx Co. (NYSE:FDX)

Tectonic Advisors LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,262 shares of the shipping service provider’s stock after purchasing an additional 776 shares during the period. Tectonic Advisors LLC’s holdings in FedEx were worth $3,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Central Valley Advisors LLC bought a new stake in shares of FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management grew its holdings 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 valued at $45,000 after buying an additional 95 shares during the last quarter. Sachetta LLC grew its holdings 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 buying an additional 37 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of FedEx during the second quarter valued at $50,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of FedEx during the second quarter valued at $56,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $272.87 on Friday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The firm’s fifty day simple moving average is $279.32 and its 200-day simple moving average is $274.85. The firm has a market capitalization of $67.15 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.06 and a beta of 1.17. 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 (NYSE:FDX) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 earnings per share. Equities analysts forecast that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. BMO Capital Markets reduced their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.