Axxcess Wealth Management LLC Purchases 741 Shares of FedEx Co. (NYSE:FDX)

Axxcess Wealth Management LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,066 shares of the shipping service provider’s stock after buying an additional 741 shares during the quarter. Axxcess Wealth Management LLC’s holdings in FedEx were worth $6,313,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 worth $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of FedEx during the 3rd quarter worth $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 grew its position in 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 FedEx during the third quarter worth about $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FDX shares. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Evercore ISI dropped their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. TD Cowen decreased their target price on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Raymond James dropped their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Stephens restated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Stock Performance

NYSE:FDX opened at $286.28 on Friday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market cap of $69.94 billion, a P/E ratio of 17.66, a PEG ratio of 1.13 and a beta of 1.17. The business’s 50-day moving average price is $275.36 and its two-hundred day moving average price is $275.43.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (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 the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.55 earnings per share. As a group, 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 was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.93%. FedEx’s dividend payout ratio 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.