Philip James Wealth Mangement LLC Makes New $6.91 Million Investment in FedEx Co. (NYSE:FDX)

Philip James Wealth Mangement LLC acquired a new stake in shares of FedEx Co. (NYSE:FDX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,230 shares of the shipping service provider’s stock, valued at approximately $6,905,000. FedEx comprises about 0.8% of Philip James Wealth Mangement LLC’s holdings, making the stock its 26th biggest holding.

Other large investors have also recently modified their holdings of the company. Evermay Wealth Management LLC grew its position in FedEx by 72.7% during the 3rd 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 last quarter. Highline Wealth Partners LLC bought a new position in shares of FedEx in the third quarter worth approximately $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx in the second quarter worth $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% during the 2nd 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 last quarter. Finally, Sachetta LLC boosted its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley downgraded 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 report on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Bernstein Bank raised their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a research report on Friday, September 20th. Finally, Citigroup initiated coverage on shares of FedEx in a report on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Up 0.7 %

FDX traded up $2.05 during trading on Friday, hitting $285.26. 141,847 shares of the company’s stock traded hands, compared to its average volume of 1,805,705. The stock has a market capitalization of $69.69 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.09 and a beta of 1.17. The company’s 50 day simple moving average is $275.86 and its two-hundred day simple moving average is $275.26. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the firm posted $4.55 EPS. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. 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 1.94%. FedEx’s dividend payout ratio is presently 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.