German American Bancorp Inc. Raises Position in FedEx Co. (NYSE:FDX)

German American Bancorp Inc. grew its stake in shares of FedEx Co. (NYSE:FDX) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,091 shares of the shipping service provider’s stock after purchasing an additional 1,778 shares during the quarter. German American Bancorp Inc.’s holdings in FedEx were worth $7,141,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Czech National Bank increased its position in shares of FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares during the period. Magnolia Capital Advisors LLC purchased a new position in FedEx in the 2nd quarter worth about $9,226,000. Raymond James & Associates lifted its stake in FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after acquiring an additional 31,241 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of FedEx during the 2nd quarter valued at about $22,052,000. Finally, Versor Investments LP bought a new stake in shares of FedEx in the third quarter worth approximately $2,096,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Price Performance

NYSE:FDX opened at $288.03 on Thursday. The company has a market capitalization of $70.37 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.22 and a beta of 1.17. The business’s 50-day moving average is $275.89 and its 200 day moving average is $277.02. 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.

FedEx (NYSE:FDX) last posted 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 analysts’ expectations of $21.87 billion. During the same period last year, the business posted $4.55 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. cut their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Susquehanna reduced their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Stifel Nicolaus dropped their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Finally, Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

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.