Wealthcare Advisory Partners LLC Purchases 8,269 Shares of FedEx Corporation $FDX

Wealthcare Advisory Partners LLC grew its position in FedEx Corporation (NYSE:FDXFree Report) by 491.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,951 shares of the shipping service provider’s stock after buying an additional 8,269 shares during the period. Wealthcare Advisory Partners LLC’s holdings in FedEx were worth $2,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of FDX. Vanguard Group Inc. increased its position in FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after buying an additional 2,741,723 shares during the last quarter. Norges Bank bought a new position in shares of FedEx during the 2nd quarter worth approximately $605,497,000. Boston Partners acquired a new position in shares of FedEx during the 3rd quarter worth approximately $468,195,000. Dodge & Cox boosted its position in FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after purchasing an additional 1,742,666 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after purchasing an additional 1,718,278 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FDX shares. TD Cowen increased their price objective on shares of FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $457.00 price target on shares of FedEx in a report on Friday, March 6th. UBS Group raised their price objective on shares of FedEx from $412.00 to $446.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Jefferies Financial Group boosted their price objective on FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, BMO Capital Markets increased their target price on FedEx from $400.00 to $410.00 and gave the stock a “market perform” rating in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $393.85.

Read Our Latest Research Report on FedEx

FedEx Price Performance

Shares of FedEx stock opened at $344.23 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $82.13 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.29. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $392.86. The company has a 50-day simple moving average of $355.42 and a two-hundred day simple moving average of $296.25.

FedEx (NYSE:FDXGet Free Report) last announced its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $4.51 earnings per share. Analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, March 9th. FedEx’s dividend payout ratio is presently 30.87%.

FedEx Profile

(Free Report)

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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