TCTC Holdings LLC Increases Position in FedEx Co. (NYSE:FDX)

TCTC Holdings LLC boosted its position in FedEx Co. (NYSE:FDX) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,752 shares of the shipping service provider’s stock after acquiring an additional 47 shares during the period. TCTC Holdings LLC’s holdings in FedEx were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FDX. Evermay Wealth Management LLC boosted its stake in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the 2nd quarter worth about $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 in the last quarter. Finally, Sachetta LLC grew its holdings in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FDX. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $215.00 to $200.00 in a research report on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. HSBC downgraded 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. Stephens restated an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Finally, TD Cowen dropped 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. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Performance

FDX stock opened at $286.16 on Friday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock has a market capitalization of $69.91 billion, a price-to-earnings ratio of 17.65, a PEG 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 stock’s fifty day moving average is $275.36 and its two-hundred day moving average is $275.43.

FedEx (NYSE:FDX) last posted 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the business earned $4.55 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, research 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. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 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.