FedEx Co. (NYSE:FDX) Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. raised its position in FedEx Co. (NYSE:FDX) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,661 shares of the shipping service provider’s stock after purchasing an additional 40 shares during the quarter. Harbour Investments Inc.’s holdings in FedEx were worth $728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FDX. Vanguard Group Inc. grew its stake in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the period. Capital International Investors increased its holdings in FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after purchasing an additional 121,240 shares in the last quarter. Finally, Sentry LLC lifted its stake in shares of FedEx by 0.5% during the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after purchasing an additional 6,657 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. BMO Capital Markets dropped 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. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday. Bernstein Bank upped their target price on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Citigroup raised their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Two research 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 has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Performance

FDX stock opened at $294.46 on Friday. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The stock has a market capitalization of $71.94 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.17 and a beta of 1.17. The stock’s fifty day moving average is $275.18 and its two-hundred day moving average is $276.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28.

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 firm 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 period in the previous year, the firm earned $4.55 EPS. On average, research analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. FedEx’s dividend payout ratio (DPR) is presently 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.