TCI Wealth Advisors Inc. Boosts Stake in FedEx Co. (NYSE:FDX)

TCI Wealth Advisors Inc. boosted its stake in shares of FedEx Co. (NYSE:FDX) by 10.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,071 shares of the shipping service provider’s stock after acquiring an additional 190 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in FedEx were worth $567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. SeaCrest Wealth Management LLC increased its position in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares in the last quarter. LRI Investments LLC increased its stake 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 buying an additional 36 shares during the last quarter. Ascent Wealth Partners LLC grew 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 worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC boosted its holdings in FedEx by 2.4% in 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 boosted its holdings in shares of FedEx by 29.1% in 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 brokerages have issued reports on FDX. Citigroup began coverage on FedEx in a research report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price target for the company. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Evercore ISI reduced their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Raymond James reduced their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Up 0.8 %

Shares of FDX stock traded up $2.06 on Monday, reaching $274.18. 239,434 shares of the company were exchanged, compared to its average volume of 1,826,794. The company has a market cap of $66.99 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.08 and a beta of 1.17. The company has a 50-day moving average of $278.83 and a 200-day moving average of $274.84. FedEx Co. has a one year low of $229.07 and a one 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.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is currently 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.