Arjuna Capital Invests $1.57 Million in FedEx Co. (NYSE:FDX)

Arjuna Capital bought a new position in FedEx Co. (NYSE:FDX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,740 shares of the shipping service provider’s stock, valued at approximately $1,571,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FDX. Atomi Financial Group Inc. bought a new position in shares of FedEx in the first quarter worth about $245,000. ProShare Advisors LLC raised its holdings in FedEx by 16.8% in the 1st quarter. ProShare Advisors LLC now owns 35,979 shares of the shipping service provider’s stock valued at $10,425,000 after buying an additional 5,186 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in FedEx by 13.2% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,548 shares of the shipping service provider’s stock valued at $448,000 after buying an additional 180 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in FedEx by 1.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,755 shares of the shipping service provider’s stock valued at $74,682,000 after buying an additional 3,994 shares during the last quarter. Finally, Texas Yale Capital Corp. bought a new position in FedEx in the 1st quarter valued at approximately $381,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.9 %

NYSE FDX traded up $2.59 during mid-day trading on Wednesday, hitting $289.86. The company’s stock had a trading volume of 165,110 shares, compared to its average volume of 1,801,933. The company’s 50 day simple moving average is $275.05 and its 200 day simple moving average is $275.84. FedEx Co. has a twelve month low of $234.45 and a twelve 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. The firm has a market capitalization of $70.82 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.16 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 the consensus estimate 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 during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the business posted $4.55 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.90%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research reports. Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. The Goldman Sachs Group dropped their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Susquehanna decreased their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Finally, 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 research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.42.

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.