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

SevenBridge Financial Group LLC increased its position in FedEx Co. (NYSE:FDX) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 8,564 shares of the shipping service provider’s stock after purchasing an additional 239 shares during the quarter. SevenBridge Financial Group LLC’s holdings in FedEx were worth $2,482,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in FedEx by 11.7% during the third quarter. Larson Financial Group LLC now owns 3,649 shares of the shipping service provider’s stock valued at $999,000 after buying an additional 383 shares during the period. Swedbank AB lifted its position in FedEx by 0.4% during the 3rd quarter. Swedbank AB now owns 111,426 shares of the shipping service provider’s stock valued at $30,495,000 after acquiring an additional 403 shares during the period. Penserra Capital Management LLC boosted its stake in FedEx by 139.7% during the third quarter. Penserra Capital Management LLC now owns 2,567 shares of the shipping service provider’s stock worth $701,000 after acquiring an additional 1,496 shares in the last quarter. KKM Financial LLC grew its holdings in FedEx by 6.4% in the third quarter. KKM Financial LLC now owns 9,228 shares of the shipping service provider’s stock worth $2,526,000 after purchasing an additional 559 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in FedEx by 9.4% in the third quarter. Kingsview Wealth Management LLC now owns 3,014 shares of the shipping service provider’s stock worth $825,000 after purchasing an additional 259 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on FDX shares. TD Cowen dropped their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Morgan Stanley downgraded 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. Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a report on Friday, September 20th. Evercore ISI dropped their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Stifel Nicolaus reduced their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Up 1.6 %

Shares of FDX stock 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. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a market cap of $73.29 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.23 and a beta of 1.17. The company has a 50 day simple moving average of $276.34 and a two-hundred day simple moving average of $277.54.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the company earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 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.