KKM Financial LLC Increases Stock Holdings in FedEx Co. (NYSE:FDX)

KKM Financial LLC lifted its stake in shares of FedEx Co. (NYSE:FDX) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,228 shares of the shipping service provider’s stock after buying an additional 559 shares during the period. KKM Financial LLC’s holdings in FedEx were worth $2,526,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FDX. Evermay Wealth Management LLC boosted its position in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in FedEx in the third quarter worth $31,000. Central Valley Advisors LLC purchased a new position in FedEx in the second quarter worth $39,000. Abound Wealth Management boosted its position in 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. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx in the third quarter worth $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $299.97 on Friday. The firm has a market capitalization of $73.29 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.23 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock’s 50-day simple moving average is $276.34 and its two-hundred day simple moving average is $277.42. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the company posted $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is currently 34.05%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FDX. Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. UBS Group cut their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. BMO Capital Markets dropped their price target on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research report on Friday, September 20th. Finally, Citigroup upped their price target on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

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.