Secure Asset Management LLC Purchases 54 Shares of FedEx Co. (NYSE:FDX)

Secure Asset Management LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 832 shares of the shipping service provider’s stock after purchasing an additional 54 shares during the quarter. Secure Asset Management LLC’s holdings in FedEx were worth $228,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Central Valley Advisors LLC bought a new stake in shares of FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management raised its stake in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Sachetta LLC lifted its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares in the last quarter. OFI Invest Asset Management boosted its position in shares of FedEx by 91.8% during the first quarter. OFI Invest Asset Management now owns 186 shares of the shipping service provider’s stock valued at $50,000 after buying an additional 89 shares during the last quarter. Finally, ORG Partners LLC bought a new stake in FedEx in the 2nd quarter worth about $50,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FDX has been the topic of several research analyst reports. Raymond James lowered their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Bernstein Bank increased their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Susquehanna cut their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Finally, Stifel Nicolaus cut their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Price Performance

Shares of FedEx stock opened at $274.45 on Friday. 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 Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The stock’s 50-day simple moving average is $280.10 and its 200-day simple moving average is $275.00. The company has a market capitalization of $67.54 billion, a price-to-earnings ratio of 15.93, 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). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.55 earnings per share. As a group, analysts expect that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio 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.