IFM Investors Pty Ltd Has $12.64 Million Stock Holdings in FedEx Co. (NYSE:FDX)

IFM Investors Pty Ltd lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,175 shares of the shipping service provider’s stock after selling 1,291 shares during the period. IFM Investors Pty Ltd’s holdings in FedEx were worth $12,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FDX. Central Valley Advisors LLC bought a new position in FedEx during the second quarter worth $39,000. Abound Wealth Management raised its holdings in shares of FedEx by 175.9% during 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 during the period. Sachetta LLC boosted its position in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of FedEx in the 2nd quarter valued at about $50,000. Finally, TruNorth Capital Management LLC bought a new stake in FedEx in the 2nd quarter valued at about $56,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FDX shares. Bernstein Bank increased their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Citigroup started coverage on shares of FedEx in a report on Wednesday, October 9th. They issued a “buy” rating and a $301.00 target price on the stock. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Stifel Nicolaus lowered their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

FedEx stock opened at $272.87 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The business’s 50 day simple moving average is $279.32 and its 200 day simple moving average is $274.85. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a market cap of $67.15 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share 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 for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the company posted $4.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Sell-side analysts forecast that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is currently 32.04%.

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.