SevenBridge Financial Group LLC Raises Stake in FedEx Co. (NYSE:FDX)

SevenBridge Financial Group LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 2.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,564 shares of the shipping service provider’s stock after buying an additional 239 shares during the quarter. SevenBridge Financial Group LLC’s holdings in FedEx were worth $2,482,000 at the end of the most recent reporting period.

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

FedEx Stock Performance

Shares of NYSE:FDX opened at $299.97 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $276.34 and a 200-day moving average price of $277.54. The company has a market cap of $73.29 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results 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 business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. 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 company earned $4.55 EPS. As a group, equities analysts anticipate that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business 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 annualized dividend and a yield of 1.84%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FDX shares. Raymond James decreased their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Stifel Nicolaus decreased their price objective 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. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. Barclays increased their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird dropped their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

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.