Marco Investment Management LLC Raises Position in FedEx Co. (NYSE:FDX)

Marco Investment Management LLC grew its position in shares of FedEx Co. (NYSE:FDX) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 866 shares of the shipping service provider’s stock after buying an additional 50 shares during the quarter. Marco Investment Management LLC’s holdings in FedEx were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC increased its holdings in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares in the last quarter. LRI Investments LLC raised its stake in FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the last quarter. Ascent Wealth Partners LLC lifted its holdings in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after buying an additional 36 shares during the period. Detalus Advisors LLC boosted its stake in shares of FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after buying an additional 37 shares during the last quarter. Finally, Sachetta LLC grew its holdings in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 1.6 %

Shares of NYSE FDX opened at $299.97 on Monday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week 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 company has a market cap of $73.29 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.25 and a beta of 1.17. The business’s 50 day moving average price is $276.34 and its 200-day moving average price is $277.68.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 EPS. On average, sell-side analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.84%. FedEx’s dividend payout ratio (DPR) is 34.05%.

Analyst Ratings Changes

FDX has been the topic of a number of recent research reports. BMO Capital Markets lowered their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. TD Cowen reduced their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” 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 research note on Friday, September 20th. Finally, Barclays upped their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, 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.