Cornerstone Capital Inc. increased its holdings in FedEx Co. (NYSE:FDX) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,025 shares of the shipping service provider’s stock after acquiring an additional 5,728 shares during the quarter. FedEx comprises approximately 2.9% of Cornerstone Capital Inc.’s portfolio, making the stock its 16th biggest position. Cornerstone Capital Inc.’s holdings in FedEx were worth $16,699,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in FedEx by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after buying an additional 492,840 shares during the period. BlackRock Inc. lifted its position in FedEx by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after buying an additional 14,086,601 shares during the period. FMR LLC lifted its position in FedEx by 0.3% during the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after buying an additional 15,382 shares during the period. Ameriprise Financial Inc. lifted its position in FedEx by 7.3% during the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock valued at $885,594,000 after buying an additional 266,660 shares during the period. Finally, Capital World Investors lifted its position in FedEx by 16.1% during the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after buying an additional 501,617 shares during the period. 75.73% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on FDX shares. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Vetr lowered FedEx to a “sell” rating and set a $204.84 price objective for the company. in a research report on Thursday, August 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $245.00 price target on shares of FedEx in a research report on Wednesday, September 6th. Cowen reaffirmed a “buy” rating and issued a $240.00 price target on shares of FedEx in a research report on Tuesday, September 12th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $235.00 price target on shares of FedEx in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $235.21.
Shares of FedEx Co. (NYSE FDX) opened at $240.05 on Friday. FedEx Co. has a twelve month low of $182.89 and a twelve month high of $243.48. The company has a market capitalization of $64,368.93, a PE ratio of 20.16, a P/E/G ratio of 1.51 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx had a return on equity of 20.69% and a net margin of 4.72%. The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same quarter in the previous year, the business posted $2.90 earnings per share. FedEx’s quarterly revenue was up 4.1% compared to the same quarter last year. analysts predict that FedEx Co. will post 12.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a $0.50 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.83%. FedEx’s payout ratio is 18.87%.
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FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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