Metis Global Partners LLC Purchases 96 Shares of FedEx Co. (NYSE:FDX)

Metis Global Partners LLC increased its stake in shares of FedEx Co. (NYSE:FDX) by 1.1% in the third quarter, Holdings Channel.com reports. The firm owned 8,550 shares of the shipping service provider’s stock after buying an additional 96 shares during the quarter. Metis Global Partners LLC’s holdings in FedEx were worth $2,340,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Evermay Wealth Management LLC increased its holdings 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 in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the third quarter valued at about $31,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx in the second quarter worth approximately $39,000. Abound Wealth Management raised its position in FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Finally, Sachetta LLC lifted its position in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

NYSE FDX opened at $294.46 on Friday. The stock has a market capitalization of $71.94 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17. 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 stock has a 50-day moving average of $275.18 and a 200 day moving average of $276.07.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 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 firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the company earned $4.55 EPS. FedEx’s revenue was down .5% compared to the same quarter last year. Sell-side analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. FedEx’s dividend payout ratio is presently 34.05%.

Analyst Upgrades and Downgrades

FDX has been the topic of several research analyst reports. Raymond James cut their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Stephens restated an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday. Evercore ISI decreased their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.