Penserra Capital Management LLC Has $701,000 Stock Position in FedEx Co. (NYSE:FDX)

Penserra Capital Management LLC grew its position in FedEx Co. (NYSE:FDX) by 139.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,567 shares of the shipping service provider’s stock after purchasing an additional 1,496 shares during the period. Penserra Capital Management LLC’s holdings in FedEx were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Evermay Wealth Management LLC increased its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of FedEx during the 3rd quarter worth $31,000. Central Valley Advisors LLC bought a new position in shares of FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management lifted its stake in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in FedEx in the third quarter worth $47,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

FDX stock opened at $303.41 on Thursday. The firm has a market cap of $74.13 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.27 and a beta of 1.17. The company’s fifty day simple moving average is $276.80 and its 200 day simple moving average is $278.42. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84.

FedEx (NYSE:FDX) last announced 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 return on equity of 15.61% and a net margin of 4.62%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter last year, the company posted $4.55 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm 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 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analyst Ratings Changes

FDX has been the topic of several recent research reports. Citigroup raised their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stephens restated an “overweight” rating and issued a $350.00 target price on shares of FedEx in a report on Friday, September 20th. BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Evercore ISI decreased their price objective on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $316.04.

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.