Benjamin Edwards Inc. Buys 21,205 Shares of FedEx Co. (NYSE:FDX)

Benjamin Edwards Inc. grew its position in FedEx Co. (NYSE:FDX) by 989.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,349 shares of the shipping service provider’s stock after purchasing an additional 21,205 shares during the period. Benjamin Edwards Inc.’s holdings in FedEx were worth $6,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC lifted its holdings in shares of FedEx by 43.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 3,035 shares of the shipping service provider’s stock worth $910,000 after buying an additional 926 shares in the last quarter. CWM LLC boosted its holdings in FedEx by 8.5% in the 2nd quarter. CWM LLC now owns 7,571 shares of the shipping service provider’s stock valued at $2,270,000 after purchasing an additional 593 shares during the period. Cullinan Associates Inc. boosted its holdings in FedEx by 13.3% in the 2nd quarter. Cullinan Associates Inc. now owns 850 shares of the shipping service provider’s stock valued at $255,000 after purchasing an additional 100 shares during the period. Aprio Wealth Management LLC acquired a new position in shares of FedEx during the 2nd quarter worth approximately $333,000. Finally, Simplicity Wealth LLC increased its holdings in shares of FedEx by 6.7% during the second quarter. Simplicity Wealth LLC now owns 18,147 shares of the shipping service provider’s stock worth $5,441,000 after purchasing an additional 1,134 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock opened at $282.85 on Wednesday. The stock has a market cap of $69.11 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.24 and a beta of 1.18. 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 twelve month low of $234.45 and a twelve month high of $313.84. The company’s fifty day moving average is $278.90 and its 200 day moving average is $279.57.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 EPS. Sell-side analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FDX. Citigroup increased their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Bernstein Bank raised their price target on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and set a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. The Goldman Sachs Group reduced their price objective on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Finally, StockNews.com cut shares of FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $316.68.

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.