Assetmark Inc. Boosts Position in FedEx Co. (NYSE:FDX)

Assetmark Inc. boosted its stake in FedEx Co. (NYSE:FDX) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,486 shares of the shipping service provider’s stock after acquiring an additional 10,797 shares during the period. Assetmark Inc.’s holdings in FedEx were worth $82,237,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Evermay Wealth Management LLC increased its position in shares of 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 buying an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the 3rd quarter worth approximately $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx in the 2nd quarter worth approximately $39,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the period. Finally, Sachetta LLC boosted its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FDX. TD Cowen decreased their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. 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 research report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $215.00 to $200.00 in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their price objective on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.17.

FedEx Stock Up 1.0 %

FDX stock opened at $286.16 on Friday. The company has a market cap of $69.91 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.13 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The business’s 50-day moving average is $275.36 and its two-hundred day moving average is $275.43. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $21.87 billion. During the same quarter last year, the company earned $4.55 EPS. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

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