National Pension Service Buys 80,821 Shares of FedEx Co. (NYSE:FDX)

by · The Markets Daily

National Pension Service raised its holdings in FedEx Co. (NYSE:FDX – Free Report) by 15.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 614,402 shares of the shipping service provider’s stock after buying an additional 80,821 shares during the period. National Pension Service owned about 0.25% of FedEx worth $168,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in FDX. Cohen Capital Management Inc. increased its holdings in FedEx by 0.8% during the 3rd quarter. Cohen Capital Management Inc. now owns 10,414 shares of the shipping service provider’s stock worth $2,850,000 after acquiring an additional 80 shares during the period. Intact Investment Management Inc. bought a new position in FedEx in the 3rd quarter worth $74,000. Robeco Institutional Asset Management B.V. increased its stake in shares of FedEx by 62.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 44,760 shares of the shipping service provider’s stock worth $12,250,000 after acquiring an additional 17,129 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of FedEx in the 3rd quarter worth about $47,000. Finally, Princeton Global Asset Management LLC boosted its holdings in shares of FedEx by 59.2% during the 3rd quarter. Princeton Global Asset Management LLC now owns 796 shares of the shipping service provider’s stock valued at $218,000 after acquiring an additional 296 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 1.2 %

Shares of NYSE FDX opened at $271.18 on Tuesday. The company’s fifty day moving average is $276.58 and its 200-day moving average is $275.17. The stock has a market cap of $66.25 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.10 and a beta of 1.17. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.55 earnings per share. Equities research analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a yield of 2.04%. FedEx’s dividend payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FDX shares. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Stifel Nicolaus lowered their target price on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Morgan Stanley downgraded FedEx from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $215.00 to $200.00 in a research report on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. Finally, Citigroup began coverage on FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price objective for the company. Two equities research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

Check Out Our Latest Research Report on FDX

About FedEx

(Free Report)

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.

See Also

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