Graypoint LLC Increases Stock Holdings in FedEx Co. (NYSE:FDX)

Graypoint LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 8.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,726 shares of the shipping service provider’s stock after acquiring an additional 141 shares during the quarter. Graypoint LLC’s holdings in FedEx were worth $472,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC lifted its holdings in FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the 3rd quarter worth about $31,000. Central Valley Advisors LLC purchased a new position in FedEx during the 2nd quarter valued at about $39,000. Abound Wealth Management increased its position in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of FedEx in the third quarter worth about $47,000. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.0 %

FDX opened at $286.16 on Friday. The firm has a market capitalization of $69.91 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.09 and a beta of 1.17. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The business has a 50 day simple moving average of $275.36 and a two-hundred day simple moving average of $275.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the previous year, the business earned $4.55 EPS. The business’s revenue was down .5% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 1.93%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FDX. Susquehanna decreased their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. UBS Group decreased their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, The Goldman Sachs Group dropped their target price on shares of FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

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.