FedEx Co. (NYSE:FDX) Holdings Lifted by Harbour Investments Inc.

Harbour Investments Inc. grew its holdings in FedEx Co. (NYSE:FDX) by 1.5% during the third quarter, Holdings Channel.com reports. The firm owned 2,661 shares of the shipping service provider’s stock after buying an additional 40 shares during the period. Harbour Investments Inc.’s holdings in FedEx were worth $728,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FDX. Pinnacle Wealth Planning Services Inc. acquired a new position in FedEx in the 1st quarter worth about $227,000. Nicolet Advisory Services LLC bought a new position in FedEx during the first quarter valued at approximately $204,000. Vanguard Group Inc. lifted its stake in FedEx by 5.6% in the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. TIAA Trust National Association increased its stake in shares of FedEx by 2.5% during the 1st quarter. TIAA Trust National Association now owns 47,924 shares of the shipping service provider’s stock worth $13,886,000 after purchasing an additional 1,170 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its holdings in shares of FedEx by 0.5% during the 1st quarter. Patten & Patten Inc. TN now owns 10,253 shares of the shipping service provider’s stock valued at $2,971,000 after purchasing an additional 50 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen lowered their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Robert W. Baird lowered their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Evercore ISI reduced their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, Loop Capital reduced their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Two equities 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 stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Up 0.7 %

Shares of FDX opened at $294.46 on Friday. 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 $71.94 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 1.17 and a beta of 1.17. The company has a 50-day moving average price of $275.18 and a two-hundred day moving average price of $276.07. 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 (NYSE:FDX) last announced its quarterly earnings results 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 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 analyst estimates of $21.87 billion. During the same period in the prior year, the firm earned $4.55 EPS. FedEx’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 company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

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.