World Investment Advisors LLC Boosts Stock Holdings in FedEx Co. (NYSE:FDX)

World Investment Advisors LLC boosted its stake in FedEx Co. (NYSE:FDX) by 27.5% during the 3rd quarter, Holdings Channel reports. The firm owned 10,836 shares of the shipping service provider’s stock after buying an additional 2,335 shares during the quarter. World Investment Advisors LLC’s holdings in FedEx were worth $2,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in shares of FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares in the last quarter. Ceredex Value Advisors LLC increased its stake in FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after acquiring an additional 161,022 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in shares of FedEx during the 2nd quarter worth approximately $46,475,000. Finally, Interval Partners LP boosted its position in shares of FedEx by 408.3% during the 2nd quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock valued at $57,296,000 after acquiring an additional 153,497 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FDX shares. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Loop Capital decreased their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. BMO Capital Markets dropped their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Citigroup lifted their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $316.68.

FedEx Stock Down 0.1 %

Shares of NYSE:FDX opened at $283.34 on Friday. The business’s 50 day moving average is $281.30 and its 200 day moving average is $280.87. The stock has a market cap of $69.23 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. FedEx Co. has a 52-week low of $234.45 and a 52-week 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.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.55 EPS. Sell-side analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

FedEx Company 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.