450 Shares in FedEx Co. (NYSE:FDX) Bought by Quest Partners LLC

Quest Partners LLC bought a new position in FedEx Co. (NYSE:FDX) in the third quarter, HoldingsChannel.com reports. The firm bought 450 shares of the shipping service provider’s stock, valued at approximately $123,000.

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in shares of FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after buying an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in FedEx during the 2nd quarter worth approximately $9,226,000. Raymond James & Associates grew its stake in shares of FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after acquiring an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of FedEx in the second quarter valued at approximately $22,052,000. Finally, Versor Investments LP bought a new stake in shares of FedEx in the third quarter worth $2,096,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FedEx stock opened at $303.39 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $74.13 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a 50-day simple moving average of $276.86 and a two-hundred day simple moving average of $278.60.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) 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 quarter last year, the firm posted $4.55 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. Analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on FDX. BMO Capital Markets lowered their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Bank of America dropped their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Raymond James decreased their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Finally, Bernstein Bank increased their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

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.