Prospera Private Wealth LLC Purchases New Position in FedEx Co. (NYSE:FDX)

Prospera Private Wealth LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 422 shares of the shipping service provider’s stock, valued at approximately $115,000.

A number of other large investors have also recently bought and sold shares of FDX. Evermay Wealth Management LLC grew its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx in the 3rd quarter valued at approximately $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth $39,000. Abound Wealth Management lifted its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in FedEx during the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Raymond James lowered their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Citigroup upped their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Susquehanna lowered their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Finally, Robert W. Baird dropped their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $316.04.

FedEx Price Performance

Shares of NYSE:FDX opened at $295.34 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 company’s 50-day moving average is $276.07 and its 200 day moving average is $277.14. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company has a market capitalization of $72.16 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.22 and a beta of 1.17.

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

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. FedEx’s dividend payout ratio is presently 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.