Pathstone Holdings LLC Grows Position in FedEx Co. (NYSE:FDX)

Pathstone Holdings LLC increased its position in FedEx Co. (NYSE:FDX) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,592 shares of the shipping service provider’s stock after buying an additional 586 shares during the quarter. Pathstone Holdings LLC’s holdings in FedEx were worth $7,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in shares of FedEx by 34.6% during 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 worth $654,312,000 after buying an additional 121,240 shares during the period. Sentry LLC increased its stake in shares of FedEx by 0.5% during the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock valued at $365,626,000 after buying an additional 6,657 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $306,129,000 after acquiring an additional 82,201 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on FDX. TD Cowen decreased their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bernstein Bank raised their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Finally, Raymond James lowered their target price on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx Stock Up 2.5 %

FDX stock opened at $295.34 on Friday. 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 Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The stock has a market capitalization of $72.16 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.22 and a beta of 1.17. The business has a fifty day moving average price of $276.07 and a 200-day moving average price of $277.14.

FedEx (NYSE:FDX) last posted its 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the company posted $4.55 EPS. FedEx’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a 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.