Avestar Capital LLC Has $343,000 Stake in FedEx Co. (NYSE:FDX)

Avestar Capital LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 7.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,254 shares of the shipping service provider’s stock after acquiring an additional 89 shares during the quarter. Avestar Capital LLC’s holdings in FedEx were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. SeaCrest Wealth Management LLC increased its stake in FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after acquiring an additional 34 shares during the period. LRI Investments LLC increased its position in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC raised its stake in FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC lifted its position in FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC grew its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

FDX stock opened at $303.41 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $276.80 and its 200 day simple moving average is $278.42. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The firm has a market cap of $74.13 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.27 and a beta of 1.17.

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

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.82%. FedEx’s payout ratio is presently 34.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FDX shares. Evercore ISI dropped their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Robert W. Baird reduced their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. UBS Group decreased their price target on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Citigroup upped their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $316.04.

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.