1,916 Shares of FedEx Corporation $FDX Acquired by USA Financial Formulas

USA Financial Formulas acquired a new position in FedEx Corporation (NYSE:FDX) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,916 shares of the shipping service provider’s stock, valued at approximately $546,000.

Other large investors also recently modified their holdings of the company. OMERS ADMINISTRATION Corp increased its position in FedEx by 104.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock worth $6,169,000 after purchasing an additional 8,868 shares in the last quarter. First Nebraska Trust Co purchased a new position in FedEx in the first quarter valued at approximately $10,675,000. NewEdge Advisors LLC lifted its position in FedEx by 74.1% during the second quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider’s stock valued at $10,757,000 after buying an additional 14,624 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in FedEx during the first quarter valued at approximately $3,918,000. Finally, Archer Investment Corp acquired a new position in FedEx during the second quarter valued at approximately $1,147,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FDX. Weiss Ratings downgraded shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 2nd. UBS Group cut their target price on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. JPMorgan Chase & Co. cut their target price on shares of FedEx from $400.00 to $399.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a report on Wednesday, June 24th. Finally, Citigroup restated a “cautious” rating on shares of FedEx in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.64.

FedEx Stock Performance

FedEx stock opened at $293.51 on Friday. The firm has a market capitalization of $69.47 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28. FedEx Corporation has a one year low of $187.62 and a one year high of $345.36. The stock’s 50 day moving average price is $309.44 and its 200 day moving average price is $334.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion during the quarter. As a group, sell-side analysts expect that FedEx Corporation will post 18.27 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were paid a $1.22 dividend. The ex-dividend date was Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.7%. FedEx’s dividend payout ratio is 26.36%.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.