Erste Asset Management GmbH Acquires New Position in FedEx Co. (NYSE:FDX)

Erste Asset Management GmbH bought a new position in FedEx Co. (NYSE:FDX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 26,627 shares of the shipping service provider’s stock, valued at approximately $7,177,000.

A number of other institutional investors have also modified their holdings of FDX. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx in the third quarter valued at about $31,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management grew its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx during the 3rd quarter worth $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FDX shares. Susquehanna reduced their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. UBS Group dropped their target price on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Stifel Nicolaus reduced their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Finally, Citigroup raised their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Stock Down 0.2 %

Shares of NYSE FDX opened at $302.67 on Monday. The firm has a market cap of $73.95 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. The company’s 50-day simple moving average is $277.83 and its 200-day simple moving average is $279.12. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 period in the prior year, the business posted $4.55 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx’s payout ratio is 34.05%.

FedEx 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.