FedEx Co. (NYSE:FDX) Position Increased by OLD National Bancorp IN

OLD National Bancorp IN raised its position in shares of FedEx Co. (NYSE:FDX) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,930 shares of the shipping service provider’s stock after buying an additional 80 shares during the quarter. OLD National Bancorp IN’s holdings in FedEx were worth $1,076,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the period. Capital International Investors increased its holdings in shares of FedEx by 32.5% in the 1st 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. Mawer Investment Management Ltd. increased its holdings in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after purchasing an additional 684,679 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 2.1 %

Shares of FDX stock opened at $268.73 on Tuesday. The stock has a market cap of $66.13 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. FedEx Co. has a one year low of $224.69 and a one year high of $313.84. The stock has a fifty day moving average price of $279.89 and a 200 day moving average price of $274.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the business earned $4.55 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts predict that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.05%. FedEx’s dividend payout ratio is currently 32.04%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research reports. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Wells Fargo & Company increased their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Loop Capital dropped their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Hsbc Global Res downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.17.

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.