Meridian Wealth Management LLC Has $220,000 Stock Holdings in FedEx Co. (NYSE:FDX)

Meridian Wealth Management LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 7.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 803 shares of the shipping service provider’s stock after buying an additional 55 shares during the period. Meridian Wealth Management LLC’s holdings in FedEx were worth $220,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on FDX. Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Friday, September 20th. Stifel Nicolaus decreased their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Performance

Shares of NYSE FDX opened at $304.86 on Tuesday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $276.59 and a 200 day simple moving average of $277.98. 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.

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). The business had revenue of $21.58 billion for 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%. FedEx’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 earnings per share. Sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently declared 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 dividend payout ratio is 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.