Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in FedEx Co. (NYSE:FDX)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of FedEx Co. (NYSE:FDX) by 27.6% in the third quarter, Holdings Channel reports. The institutional investor owned 121,433 shares of the shipping service provider’s stock after purchasing an additional 26,260 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FedEx were worth $33,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FDX. International Assets Investment Management LLC boosted its holdings in FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after purchasing an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the last quarter. Ceredex Value Advisors LLC boosted its holdings in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after buying an additional 161,022 shares in the last quarter. Empyrean Capital Partners LP purchased a new position in shares of FedEx in the 2nd quarter valued at $46,475,000. Finally, Interval Partners LP raised its stake in FedEx by 408.3% during the 2nd quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock worth $57,296,000 after acquiring an additional 153,497 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Barclays boosted their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Bernstein Bank raised their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Loop Capital reduced their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Finally, TD Cowen dropped their price objective on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $316.04.

FedEx Stock Performance

NYSE FDX opened at $303.39 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 fifty-two week low of $234.45 and a fifty-two week high of $313.84. The business has a fifty day moving average of $276.86 and a 200-day moving average of $278.60. The stock has a market cap of $74.13 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its quarterly earnings results 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 firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the firm earned $4.55 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

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.