FedEx Co. (NYSE:FDX) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in FedEx Co. (NYSE:FDX) by 39.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,345 shares of the shipping service provider’s stock after buying an additional 16,931 shares during the period. Cerity Partners LLC’s holdings in FedEx were worth $16,538,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Silvercrest Asset Management Group LLC acquired a new position in FedEx in the first quarter valued at approximately $629,000. Waverly Advisors LLC lifted its position in shares of FedEx by 124.6% during the 1st quarter. Waverly Advisors LLC now owns 3,522 shares of the shipping service provider’s stock worth $1,021,000 after buying an additional 1,954 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of FedEx by 15.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,944 shares of the shipping service provider’s stock valued at $3,711,000 after buying an additional 1,894 shares in the last quarter. Motley Fool Asset Management LLC grew its position in shares of FedEx by 6.6% in the 1st quarter. Motley Fool Asset Management LLC now owns 7,383 shares of the shipping service provider’s stock valued at $2,139,000 after buying an additional 460 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in FedEx by 77.9% in the first quarter. Tidal Investments LLC now owns 17,530 shares of the shipping service provider’s stock valued at $5,079,000 after acquiring an additional 7,678 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FedEx stock opened at $304.86 on Tuesday. The company has a market cap of $74.48 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.17. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The business has a fifty day moving average of $276.59 and a two-hundred day moving average of $277.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 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 company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period in the prior year, the firm posted $4.55 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is currently 34.05%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Loop Capital cut their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Robert W. Baird decreased their price objective on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Hsbc Global Res cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Citigroup increased their price target on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research note 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 stock. According to data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average price target 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.