2,062 Shares in FedEx Co. (NYSE:FDX) Acquired by Truvestments Capital LLC

Truvestments Capital LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,062 shares of the shipping service provider’s stock, valued at approximately $564,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank raised its position in FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after acquiring an additional 2,767 shares during the period. Magnolia Capital Advisors LLC bought a new position in FedEx in the 2nd quarter worth $9,226,000. Raymond James & Associates lifted its position in FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock valued at $132,926,000 after purchasing an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in FedEx during the second quarter valued at about $22,052,000. Finally, Versor Investments LP purchased a new stake in FedEx in the third quarter worth about $2,096,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 1.6 %

Shares of FDX opened at $304.86 on Tuesday. The firm has a market capitalization of $74.48 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 1.25 and a beta of 1.17. 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 company has a 50-day moving average of $276.59 and a 200 day moving average of $277.98.

FedEx (NYSE:FDX) last announced its quarterly earnings data 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). The firm 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 firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.55 EPS. On average, research analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

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 issued a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.81%. FedEx’s payout ratio is currently 34.05%.

Analyst Ratings Changes

FDX has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday, September 20th. Robert W. Baird reduced their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Finally, Loop Capital dropped their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $316.04.

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.