Oppenheimer & Co. Inc. Purchases 1,174 Shares of FedEx Co. (NYSE:FDX)

Oppenheimer & Co. Inc. grew its position in FedEx Co. (NYSE:FDX) by 10.2% in the third quarter, Holdings Channel.com reports. The fund owned 12,713 shares of the shipping service provider’s stock after buying an additional 1,174 shares during the period. Oppenheimer & Co. Inc.’s holdings in FedEx were worth $3,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Rossmore Private Capital lifted its position in FedEx by 22.7% in the third quarter. Rossmore Private Capital now owns 1,619 shares of the shipping service provider’s stock worth $443,000 after purchasing an additional 300 shares during the period. Souders Financial Advisors boosted its position in shares of FedEx by 41.3% during the 3rd quarter. Souders Financial Advisors now owns 955 shares of the shipping service provider’s stock valued at $261,000 after acquiring an additional 279 shares in the last quarter. Haverford Trust Co increased its stake in FedEx by 7.3% in the third quarter. Haverford Trust Co now owns 1,840 shares of the shipping service provider’s stock valued at $504,000 after acquiring an additional 125 shares during the period. Live Oak Investment Partners raised its position in FedEx by 2.0% in the third quarter. Live Oak Investment Partners now owns 7,347 shares of the shipping service provider’s stock worth $2,011,000 after purchasing an additional 142 shares in the last quarter. Finally, Missouri Trust & Investment Co boosted its holdings in FedEx by 4.8% during the third quarter. Missouri Trust & Investment Co now owns 5,065 shares of the shipping service provider’s stock valued at $1,386,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 0.7 %

Shares of NYSE:FDX opened at $294.46 on Friday. 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 debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The company has a market capitalization of $71.94 billion, a PE ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17. FedEx Co. has a 52 week low of $234.45 and a 52 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 EPS 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 for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the business posted $4.55 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Analysts forecast that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.87%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FDX shares. UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company 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. BMO Capital Markets reduced their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.04.

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.