Signature Estate & Investment Advisors LLC Acquires 302 Shares of FedEx Co. (NYSE:FDX)

Signature Estate & Investment Advisors LLC raised its holdings in FedEx Co. (NYSE:FDX) by 18.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,956 shares of the shipping service provider’s stock after buying an additional 302 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in FedEx were worth $535,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in the 3rd 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 bought a new stake in FedEx during the 3rd quarter valued at approximately $31,000. Central Valley Advisors LLC purchased a new stake in FedEx in the second quarter worth $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of FedEx in the 3rd quarter worth about $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. TD Cowen lowered their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Bernstein Bank upped their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Barclays lifted their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday. 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

NYSE FDX opened at $294.46 on Friday. The stock has a market cap 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 12 month low of $234.45 and a 12 month high of $313.84. The company’s 50 day moving average is $275.40 and its two-hundred day moving average is $276.37. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business 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% on a year-over-year basis. During the same period last year, the company earned $4.55 EPS. As a group, research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. 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.