Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in FedEx Co. (NYSE:FDX)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of FedEx Co. (NYSE:FDX) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 557,507 shares of the shipping service provider’s stock after buying an additional 3,126 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of FedEx worth $152,579,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FDX. Evermay Wealth Management LLC lifted 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 valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in shares of FedEx during the third quarter valued at approximately $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management lifted its holdings in shares of 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 purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of FedEx in the 3rd quarter worth approximately $47,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HSBC cut FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. The Goldman Sachs Group lowered their price target on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Stifel Nicolaus cut their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. TD Cowen decreased their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Two 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $315.42.

FedEx Stock Performance

Shares of NYSE FDX opened at $287.32 on Wednesday. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The firm has a market capitalization of $70.20 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.15 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $275.18 and a 200 day moving average of $275.69.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the previous year, the firm earned $4.55 EPS. The company’s revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

About FedEx

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.