Glenmede Trust Co. NA Purchases 2,064 Shares of FedEx Co. (NYSE:FDX)

Glenmede Trust Co. NA lifted its position in shares of FedEx Co. (NYSE:FDX) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,847 shares of the shipping service provider’s stock after purchasing an additional 2,064 shares during the quarter. Glenmede Trust Co. NA’s holdings in FedEx were worth $15,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC acquired a new position in shares of FedEx in the 3rd quarter valued at approximately $31,000. Central Valley Advisors LLC bought a new stake in FedEx during the 2nd quarter worth approximately $39,000. Abound Wealth Management lifted its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of FedEx in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. BMO Capital Markets reduced their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Robert W. Baird dropped their target price on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Bank of America reduced their price target on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Price Performance

NYSE:FDX opened at $303.39 on Friday. The company has a market cap of $74.13 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.27 and a beta of 1.17. The firm’s fifty day moving average price is $276.86 and its two-hundred day moving average price is $278.60. 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 current ratio of 1.28 and a quick ratio of 1.24.

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

FedEx Announces Dividend

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

FedEx 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.