Cohen Capital Management Inc. Buys 80 Shares of FedEx Co. (NYSE:FDX)

Cohen Capital Management Inc. raised its stake in FedEx Co. (NYSE:FDX) by 0.8% during the third quarter, HoldingsChannel.com reports. The fund owned 10,414 shares of the shipping service provider’s stock after acquiring an additional 80 shares during the quarter. Cohen Capital Management Inc.’s holdings in FedEx were worth $2,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Intact Investment Management Inc. acquired a new position in FedEx in the third quarter valued at about $74,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of FedEx by 62.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 44,760 shares of the shipping service provider’s stock worth $12,250,000 after acquiring an additional 17,129 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in FedEx during the 3rd quarter worth approximately $47,000. Princeton Global Asset Management LLC increased its holdings in FedEx by 59.2% during the 3rd quarter. Princeton Global Asset Management LLC now owns 796 shares of the shipping service provider’s stock valued at $218,000 after purchasing an additional 296 shares in the last quarter. Finally, Fullcircle Wealth LLC raised its position in FedEx by 12.9% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,014 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 116 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 0.1 %

NYSE:FDX opened at $274.49 on Monday. The stock has a market cap of $67.06 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.10 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. The stock has a 50-day moving average price of $277.10 and a two-hundred day moving average price of $275.11. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last announced its 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). The company had revenue of $21.58 billion for 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%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $4.55 earnings per share. As a group, equities analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analyst Ratings Changes

Several analysts have recently commented on the company. TD Cowen decreased their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Stifel Nicolaus decreased their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Robert W. Baird dropped their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.