Redwood Investment Management LLC Buys 190 Shares of FedEx Co. (NYSE:FDX)

Redwood Investment Management LLC raised its position in FedEx Co. (NYSE:FDX) by 4.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,903 shares of the shipping service provider’s stock after acquiring an additional 190 shares during the period. Redwood Investment Management LLC’s holdings in FedEx were worth $1,312,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in FDX. International Assets Investment Management LLC raised its position in FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after acquiring an additional 647,926 shares in the last quarter. Ameriprise Financial Inc. boosted 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 acquiring an additional 578,350 shares in the last quarter. Ceredex Value Advisors LLC increased its position in FedEx by 77.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after purchasing an additional 161,022 shares in the last quarter. Empyrean Capital Partners LP acquired a new position in shares of FedEx in the second quarter valued at approximately $46,475,000. Finally, Interval Partners LP lifted its holdings in shares of FedEx by 408.3% during the second quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock worth $57,296,000 after purchasing an additional 153,497 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 0.4 %

NYSE FDX opened at $280.52 on Friday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The business has a fifty day moving average price of $279.55 and a 200 day moving average price of $279.60. The company has a market cap of $68.54 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.18 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.55 EPS. Research analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced 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 is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.97%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FDX shares. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research report on Tuesday. Citigroup raised their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a report on Friday, September 20th. Stifel Nicolaus cut their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Susquehanna reduced 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $316.68.

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.