German American Bancorp Inc. Buys 1,778 Shares of FedEx Co. (NYSE:FDX)

German American Bancorp Inc. raised its position in shares of FedEx Co. (NYSE:FDX) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,091 shares of the shipping service provider’s stock after acquiring an additional 1,778 shares during the period. German American Bancorp Inc.’s holdings in FedEx were worth $7,141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. increased 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 during the period. Ceredex Value Advisors LLC boosted its stake in shares of FedEx by 77.8% during the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the period. Empyrean Capital Partners LP bought a new position in shares of FedEx in the second quarter worth about $46,475,000. Finally, Interval Partners LP increased its stake in FedEx by 408.3% in the 2nd quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock worth $57,296,000 after buying an additional 153,497 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on FDX shares. Stifel Nicolaus lowered their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Bernstein Bank upped their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Barclays raised their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. 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 stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Trading Down 1.7 %

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 PEG ratio of 1.22 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. The firm has a fifty day simple moving average of $275.89 and a 200-day simple moving average of $277.02. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results 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). The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.55 earnings per share. On average, equities research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 yield of 1.92%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is presently 34.05%.

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.