Sequoia Financial Advisors LLC Has $2.53 Million Position in FedEx Co. (NYSE:FDX)

Sequoia Financial Advisors LLC raised its holdings in shares of FedEx Co. (NYSE:FDX) by 19.4% in the third quarter, Holdings Channel reports. The institutional investor owned 9,253 shares of the shipping service provider’s stock after buying an additional 1,503 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in FedEx were worth $2,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Central Valley Advisors LLC acquired a new position in shares of FedEx during the second quarter worth approximately $39,000. Abound Wealth Management lifted its holdings in shares of FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Sachetta LLC lifted its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after buying an additional 37 shares during the last quarter. ORG Partners LLC acquired a new position in shares of FedEx during the second quarter worth approximately $50,000. Finally, TruNorth Capital Management LLC acquired a new position in shares of FedEx during the second quarter worth approximately $56,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FDX shares. Loop Capital cut their price target on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Friday, September 20th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Monday. Finally, UBS Group cut their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Price Performance

Shares of FDX stock opened at $268.02 on Thursday. The stock’s fifty day moving average is $279.32 and its 200-day moving average is $274.85. 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 stock has a market capitalization of $65.95 billion, a PE ratio of 15.56, a PEG ratio of 1.06 and a beta of 1.17. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its 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 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 for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.55 EPS. Equities research analysts expect that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

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.