Princeton Global Asset Management LLC Purchases 296 Shares of FedEx Co. (NYSE:FDX)

Princeton Global Asset Management LLC increased its holdings in shares of FedEx Co. (NYSE:FDX) by 59.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 796 shares of the shipping service provider’s stock after purchasing an additional 296 shares during the period. Princeton Global Asset Management LLC’s holdings in FedEx were worth $218,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Capital International Investors lifted its stake in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. lifted its position in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after acquiring an additional 1,056,061 shares during the last quarter. Mawer Investment Management Ltd. boosted its holdings in shares of FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock worth $654,401,000 after acquiring an additional 684,679 shares during the period. International Assets Investment Management LLC grew 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 valued at $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

FDX stock opened at $274.35 on Monday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a market cap of $67.03 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.10 and a beta of 1.17. The company has a 50 day simple moving average of $277.10 and a 200 day simple moving average of $275.11.

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

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued 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 2.01%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. HSBC lowered 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. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. BMO Capital Markets dropped their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group cut their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Finally, StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

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.