Cascade Investment Advisors Inc. Has $2.05 Million Stake in FedEx Co. (NYSE:FDX)

Cascade Investment Advisors Inc. raised its position in shares of FedEx Co. (NYSE:FDX) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,501 shares of the shipping service provider’s stock after buying an additional 567 shares during the period. FedEx comprises 1.3% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 22nd biggest position. Cascade Investment Advisors Inc.’s holdings in FedEx were worth $2,053,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares in the last quarter. Capital International Investors increased its holdings in shares of FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares in the last quarter. Putnam Investments LLC increased its holdings in shares of FedEx by 38.1% during the fourth quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock worth $732,040,000 after buying an additional 798,084 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of FedEx by 43.5% in the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $266.93 on Thursday. The firm has a market cap of $65.69 billion, a PE ratio of 15.49, a PEG ratio of 1.04 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 $224.69 and a 1-year high of $313.84. The company has a fifty day moving average price of $286.13 and a 200 day moving average price of $275.85.

FedEx (NYSE:FDX) last announced its 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). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 earnings per share. Research analysts predict that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is presently 32.04%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FDX. Raymond James lowered their price target on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. UBS Group lowered their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.74.

Insider Buying and Selling

In other FedEx news, Director Marvin R. Ellison sold 2,535 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $299.34, for a total transaction of $758,826.90. Following the sale, the director now directly owns 6,955 shares of the company’s stock, valued at approximately $2,081,909.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FedEx news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marvin R. Ellison sold 2,535 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $299.34, for a total transaction of $758,826.90. Following the sale, the director now directly owns 6,955 shares in the company, valued at $2,081,909.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,914 shares of company stock valued at $3,978,338. Company insiders own 8.73% of the company’s stock.

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.