Charles Schwab Investment Management Inc. Purchases 13,093 Shares of FedEx Co. (NYSE:FDX)

Charles Schwab Investment Management Inc. lifted its holdings in FedEx Co. (NYSE:FDX) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,451,576 shares of the shipping service provider’s stock after buying an additional 13,093 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in FedEx were worth $397,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Evermay Wealth Management LLC increased its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC bought a new stake in FedEx during the 3rd quarter valued at about $31,000. Central Valley Advisors LLC purchased a new stake in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management grew its stake in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of FedEx during the third quarter worth approximately $47,000. 84.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FDX. BMO Capital Markets dropped their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. TD Cowen cut their price target on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Raymond James lowered their price objective on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Evercore ISI reduced their price target on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Loop Capital dropped their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Performance

Shares of FDX stock opened at $299.97 on Friday. The business has a fifty day moving average of $276.34 and a 200 day moving average of $277.42. 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 firm has a market capitalization of $73.29 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.17.

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 business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.55 earnings per share. As a group, research analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.84%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

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.