Live Oak Investment Partners Grows Position in FedEx Co. (NYSE:FDX)

Live Oak Investment Partners lifted its stake in FedEx Co. (NYSE:FDX) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,347 shares of the shipping service provider’s stock after buying an additional 142 shares during the quarter. FedEx makes up about 1.6% of Live Oak Investment Partners’ investment portfolio, making the stock its 16th largest position. Live Oak Investment Partners’ holdings in FedEx were worth $2,011,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of FDX. Vanguard Group Inc. increased its position 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 worth $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Capital International Investors raised its stake in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Ameriprise Financial Inc. raised its stake in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 acquiring an additional 121,240 shares during the period. Finally, Sentry LLC raised its stake in shares of FedEx by 0.5% in the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock valued at $365,626,000 after acquiring an additional 6,657 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.9 %

Shares of FDX stock opened at $287.32 on Wednesday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The stock has a market cap of $70.20 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.16 and a beta of 1.17. The business has a fifty day simple moving average of $275.18 and a 200-day simple moving average of $275.69. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last announced its quarterly 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 firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the prior year, the business earned $4.55 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 dividend yield of 1.92%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is currently 34.05%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FDX. UBS Group reduced their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Bernstein Bank increased their target price on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Citigroup increased their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Finally, Loop Capital reduced their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.42.

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.