Empowered Funds LLC Has $2.45 Million Holdings in FedEx Co. (NYSE:FDX)

Empowered Funds LLC raised its position in shares of FedEx Co. (NYSE:FDX) by 85.4% in the third quarter, HoldingsChannel.com reports. The firm owned 8,944 shares of the shipping service provider’s stock after purchasing an additional 4,121 shares during the quarter. Empowered Funds LLC’s holdings in FedEx were worth $2,448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FDX. Capital International Investors grew its position in shares of FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the period. Ameriprise Financial Inc. grew its position in shares of FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after buying an additional 578,350 shares during the period. Dimensional Fund Advisors LP grew its position in shares of FedEx by 5.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after buying an additional 121,240 shares during the period. Sentry LLC grew its position in shares of FedEx by 0.5% during the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after buying an additional 6,657 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of FedEx by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,056,561 shares of the shipping service provider’s stock worth $306,129,000 after buying an additional 82,201 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FDX. Evercore ISI reduced their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Citigroup increased their target price on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stifel Nicolaus cut their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Susquehanna cut their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

FedEx Trading Down 0.7 %

NYSE FDX opened at $293.02 on Wednesday. The stock has a market capitalization of $71.59 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.23 and a beta of 1.17. 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. The business’s fifty day moving average is $275.82 and its 200-day moving average is $276.94.

FedEx (NYSE:FDX) last released its earnings results 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the firm earned $4.55 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

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.