Empowered Funds LLC Has $2.45 Million Position in FedEx Co. (NYSE:FDX)

Empowered Funds LLC raised its stake in FedEx Co. (NYSE:FDX) by 85.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,944 shares of the shipping service provider’s stock after purchasing an additional 4,121 shares during the period. Empowered Funds LLC’s holdings in FedEx were worth $2,448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital International Investors grew 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 acquiring an additional 2,163,622 shares in the last quarter. 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 valued at $674,336,000 after acquiring an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after acquiring an additional 121,240 shares in the last quarter. Sentry LLC lifted its position in FedEx by 0.5% during the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after purchasing an additional 6,657 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in FedEx by 8.4% during the first 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 during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FDX has been the subject of several recent analyst reports. Evercore ISI cut their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. UBS Group cut their price objective on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Loop Capital cut their price objective on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, Daiwa America cut shares of FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Performance

FedEx stock opened at $293.02 on Wednesday. The business has a 50 day moving average of $275.82 and a 200-day moving average of $276.94. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The company has a market capitalization of $71.59 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.23 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 the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.55 EPS. On average, equities research analysts predict 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. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Monday, December 9th. 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.