Lincoln National Corp Acquires 384 Shares of FedEx Co. (NYSE:FDX)

Lincoln National Corp increased its holdings in shares of FedEx Co. (NYSE:FDX) by 5.4% during the second quarter, Holdings Channel.com reports. The fund owned 7,502 shares of the shipping service provider’s stock after purchasing an additional 384 shares during the quarter. Lincoln National Corp’s holdings in FedEx were worth $2,238,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wagner Wealth Management LLC bought a new stake in shares of FedEx during the 1st quarter valued at $25,000. Heritage Wealth Management LLC lifted its position in FedEx by 125.0% during the second quarter. Heritage Wealth Management LLC now owns 108 shares of the shipping service provider’s stock worth $32,000 after purchasing an additional 60 shares during the period. Monumental Financial Group Inc. acquired a new stake in FedEx during the second quarter worth about $45,000. Strategic Blueprint LLC bought a new position in FedEx in the 2nd quarter valued at about $50,000. Finally, Northern Oak Wealth Management Inc. raised its position in shares of FedEx by 103.1% in the 1st quarter. Northern Oak Wealth Management Inc. now owns 197 shares of the shipping service provider’s stock valued at $56,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.64% of the company’s stock.

Shares of NYSE:FDX opened at $223.73 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.47 and a current ratio of 1.51. FedEx Co. has a 52-week low of $216.34 and a 52-week high of $319.90. The business’s 50 day simple moving average is $252.69 and its two-hundred day simple moving average is $280.28. The firm has a market cap of $59.43 billion, a P/E ratio of 11.89, a PEG ratio of 0.95 and a beta of 1.28.

FedEx (NYSE:FDX) last issued its earnings results on Monday, September 20th. The shipping service provider reported $4.37 earnings per share for the quarter, missing analysts’ consensus estimates of $4.92 by ($0.55). FedEx had a return on equity of 20.93% and a net margin of 5.88%. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same period in the previous year, the company earned $4.87 earnings per share. FedEx’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 19.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Friday, September 3rd were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Thursday, September 2nd. FedEx’s dividend payout ratio (DPR) is 16.51%.

A number of brokerages recently issued reports on FDX. Stephens decreased their price objective on shares of FedEx from $360.00 to $330.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 22nd. Citigroup lowered their price target on FedEx from $360.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, September 22nd. Credit Suisse Group set a $330.00 price objective on FedEx in a research note on Wednesday, September 22nd. BMO Capital Markets dropped their target price on shares of FedEx from $315.00 to $300.00 and set a “market perform” rating for the company in a report on Wednesday, September 22nd. Finally, Cowen decreased their price target on shares of FedEx from $297.00 to $283.00 and set an “outperform” rating on the stock in a report on Wednesday, October 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Buy” and an average price target of $315.13.

About FedEx

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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