FedEx Co. (NYSE:FDX) Stake Increased by Tidal Investments LLC

Tidal Investments LLC raised its stake in shares of FedEx Co. (NYSE:FDX) by 18.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,870 shares of the shipping service provider’s stock after acquiring an additional 2,994 shares during the quarter. Tidal Investments LLC’s holdings in FedEx were worth $5,164,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in FedEx in the second quarter valued at about $50,000. Blue Trust Inc. increased its holdings in shares of FedEx by 104.8% in the 2nd quarter. Blue Trust Inc. now owns 850 shares of the shipping service provider’s stock valued at $246,000 after acquiring an additional 435 shares during the last quarter. Brookstone Capital Management raised its position in shares of FedEx by 11.4% during the 2nd quarter. Brookstone Capital Management now owns 5,035 shares of the shipping service provider’s stock valued at $1,563,000 after acquiring an additional 517 shares in the last quarter. Gradient Investments LLC lifted its stake in FedEx by 5.3% during the second quarter. Gradient Investments LLC now owns 1,778 shares of the shipping service provider’s stock worth $533,000 after purchasing an additional 89 shares during the last quarter. Finally, TCW Group Inc. boosted its holdings in FedEx by 79.1% in the second quarter. TCW Group Inc. now owns 18,356 shares of the shipping service provider’s stock worth $5,504,000 after purchasing an additional 8,109 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FDX. Robert W. Baird dropped their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Loop Capital dropped their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. BMO Capital Markets cut their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.68.

FedEx Stock Down 0.1 %

Shares of FDX stock opened at $283.34 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock has a market cap of $69.23 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The business’s fifty day moving average is $281.30 and its 200-day moving average is $280.87. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last released its earnings results 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 return on equity of 15.61% and a net margin of 4.62%. 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 firm earned $4.55 earnings per share. FedEx’s revenue was down .5% on a year-over-year basis. Equities analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.95%. FedEx’s dividend payout ratio (DPR) is 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.