Tevis Investment Management Raises Stock Holdings in FedEx Co. (NYSE:FDX)

Tevis Investment Management boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,783 shares of the shipping service provider’s stock after purchasing an additional 46 shares during the quarter. Tevis Investment Management’s holdings in FedEx were worth $490,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares in the last quarter. Capital International Investors raised its stake in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Mawer Investment Management Ltd. lifted 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 last quarter. Ameriprise Financial Inc. grew its stake in FedEx by 34.6% in the second 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 increased its holdings in FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after buying an additional 121,240 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Down 0.3 %

FDX stock opened at $274.30 on Thursday. The firm has a market cap of $67.02 billion, a PE ratio of 16.92, a P/E/G ratio of 1.08 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $277.96 and a 200 day simple moving average of $274.91.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. During the same quarter last year, the company posted $4.55 EPS. FedEx’s revenue was down .5% on a year-over-year basis. Equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is presently 34.05%.

Analysts Set New Price Targets

FDX has been the subject of several research reports. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Susquehanna lowered their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Raymond James reduced their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Robert W. Baird lowered their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, 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. Two research 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. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus 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.