Prospera Financial Services Inc Boosts Stock Position in FedEx Co. (NYSE:FDX)

Prospera Financial Services Inc boosted its position in shares of FedEx Co. (NYSE:FDX) by 6.7% in the third quarter, HoldingsChannel.com reports. The fund owned 20,973 shares of the shipping service provider’s stock after purchasing an additional 1,313 shares during the period. Prospera Financial Services Inc’s holdings in FedEx were worth $5,742,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FDX. Capital International Investors boosted its stake in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Ameriprise Financial Inc. grew its stake in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after acquiring an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of FedEx by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after acquiring an additional 121,240 shares during the period. Sentry LLC boosted its holdings in FedEx by 0.5% in the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock valued at $365,626,000 after purchasing an additional 6,657 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in FedEx by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,056,561 shares of the shipping service provider’s stock worth $306,129,000 after purchasing an additional 82,201 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America decreased their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Loop Capital lowered their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Raymond James dropped their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, The Goldman Sachs Group decreased their price target on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Price Performance

Shares of FDX opened at $293.02 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm has a 50-day simple moving average of $275.82 and a 200-day simple moving average of $276.94. The company has a market capitalization of $71.59 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last posted 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 company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.55 earnings per share. On average, equities research analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. 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 1.88%. FedEx’s payout ratio is currently 34.05%.

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.