FedEx Co. (NYSE:FDX) Shares Purchased by Consolidated Planning Corp

Consolidated Planning Corp grew its position in shares of FedEx Co. (NYSE:FDX) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,906 shares of the shipping service provider’s stock after acquiring an additional 369 shares during the quarter. Consolidated Planning Corp’s holdings in FedEx were worth $5,721,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of FedEx during the first quarter worth approximately $1,667,000. Allegheny Financial Group LTD bought a new stake in FedEx during the 1st quarter valued at $203,000. Hilltop National Bank acquired a new position in FedEx during the 1st quarter worth $476,000. Czech National Bank grew its stake in shares of FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after purchasing an additional 2,767 shares in the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new position in shares of FedEx during the second quarter valued at $9,226,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $283.30 on Friday. The firm has a market capitalization of $69.22 billion, a PE ratio of 17.48, a PEG ratio of 1.09 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 Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The business’s 50 day moving average is $275.86 and its 200-day moving average is $275.26.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 analyst estimates of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. FedEx’s payout ratio is presently 34.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America decreased their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Susquehanna decreased their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group dropped their price objective on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Finally, Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Company 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.