Larson Financial Group LLC Raises Position in FedEx Co. (NYSE:FDX)

Larson Financial Group LLC increased its stake in FedEx Co. (NYSE:FDX) by 11.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,649 shares of the shipping service provider’s stock after acquiring an additional 383 shares during the period. Larson Financial Group LLC’s holdings in FedEx were worth $999,000 at the end of the most recent reporting period.

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

FedEx Trading Up 1.6 %

Shares of FDX stock opened at $299.97 on Monday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The business’s fifty day moving average price is $276.34 and its 200 day moving average price is $277.68. The firm has a market capitalization of $73.29 billion, a PE ratio of 18.51, a P/E/G ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last announced 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company 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 business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid 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 payout ratio is currently 34.05%.

Analysts Set New Price Targets

A number of brokerages recently commented on FDX. The Goldman Sachs Group lowered their target price on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Citigroup raised their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. 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 report on Friday, September 20th. Finally, Loop Capital cut 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, 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.