Independent Advisor Alliance Boosts Holdings in FedEx Co. (NYSE:FDX)

Independent Advisor Alliance lifted its stake in FedEx Co. (NYSE:FDX) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,164 shares of the shipping service provider’s stock after purchasing an additional 190 shares during the quarter. Independent Advisor Alliance’s holdings in FedEx were worth $2,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of FDX. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx in the 3rd quarter worth about $31,000. Central Valley Advisors LLC bought a new stake in FedEx in the 2nd quarter worth about $39,000. Abound Wealth Management increased its holdings 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 buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in FedEx in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.6 %

FedEx stock opened at $304.86 on Tuesday. The firm has a 50 day moving average of $276.59 and a 200 day moving average of $277.98. The firm has a market capitalization of $74.48 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 1.25 and a beta of 1.17. 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 announced 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 company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the business earned $4.55 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, research analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Analyst Upgrades and Downgrades

Several research firms recently commented on FDX. Susquehanna reduced their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. BMO Capital Markets reduced their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a report on Friday, September 20th. Loop Capital dropped their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Stephens restated an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Finally, Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $316.04.

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.