FedEx Co. (NYSE:FDX) Shares Acquired by Greenleaf Trust

Greenleaf Trust increased its holdings in FedEx Co. (NYSE:FDX) by 2.5% during the third quarter, HoldingsChannel.com reports. The fund owned 5,028 shares of the shipping service provider’s stock after buying an additional 122 shares during the period. Greenleaf Trust’s holdings in FedEx were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of FDX. WT Wealth Management increased its stake in FedEx by 2.9% in the 3rd quarter. WT Wealth Management now owns 8,311 shares of the shipping service provider’s stock valued at $2,281,000 after buying an additional 232 shares during the period. Hofer & Associates. Inc acquired a new position in FedEx in the 3rd quarter valued at $205,000. Eastern Bank acquired a new position in FedEx in the 3rd quarter valued at $302,000. Sequoia Financial Advisors LLC increased its stake in FedEx by 19.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,253 shares of the shipping service provider’s stock valued at $2,534,000 after buying an additional 1,503 shares during the period. Finally, Jade Capital Advisors LLC acquired a new position in FedEx in the 3rd quarter valued at $1,368,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FDX. Robert W. Baird dropped their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Stephens reaffirmed an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. TD Cowen lowered their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock 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 note on Friday, September 20th. Finally, Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Price Performance

FedEx stock opened at $272.87 on Friday. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock has a market capitalization of $67.15 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.06 and a beta of 1.17. The firm’s 50-day moving average is $279.32 and its two-hundred day moving average is $274.85. 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 released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm 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%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $4.55 earnings per share. Equities 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. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.02%. FedEx’s payout ratio is currently 32.04%.

FedEx 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.