Bridgewater Associates LP Grows Stock Position in FedEx Co. (NYSE:FDX)

Bridgewater Associates LP lifted its stake in FedEx Co. (NYSE:FDX) by 38.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,022 shares of the shipping service provider’s stock after buying an additional 6,994 shares during the quarter. Bridgewater Associates LP’s holdings in FedEx were worth $6,848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Townsquare Capital LLC boosted its position in FedEx by 19.5% in the 3rd quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider’s stock worth $483,000 after purchasing an additional 288 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its holdings in FedEx by 36.2% during the third quarter. Transamerica Financial Advisors Inc. now owns 963 shares of the shipping service provider’s stock worth $264,000 after buying an additional 256 shares in the last quarter. Shum Financial Group Inc. acquired a new stake in FedEx during the third quarter valued at $799,000. Avestar Capital LLC increased its holdings in FedEx by 7.6% in the third quarter. Avestar Capital LLC now owns 1,254 shares of the shipping service provider’s stock valued at $343,000 after buying an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in shares of FedEx by 7.2% in the third quarter. Brooklyn Investment Group now owns 1,521 shares of the shipping service provider’s stock worth $416,000 after acquiring an additional 102 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FDX shares. Evercore ISI cut their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Susquehanna cut their price target on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Finally, Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Trading Down 0.2 %

NYSE FDX opened at $302.74 on Friday. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a market capitalization of $73.97 billion, a P/E ratio of 18.68, a PEG ratio of 1.27 and a beta of 1.17. The firm’s 50-day moving average is $277.83 and its two-hundred day moving average is $278.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $21.87 billion. During the same period in the previous year, the business posted $4.55 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

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.