VELA Investment Management LLC Has $1.49 Million Stock Holdings in FedEx Co. (NYSE:FDX)

VELA Investment Management LLC boosted its position in FedEx Co. (NYSE:FDX) by 1,103.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,453 shares of the shipping service provider’s stock after buying an additional 5,000 shares during the quarter. VELA Investment Management LLC’s holdings in FedEx were worth $1,492,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Evermay Wealth Management LLC increased its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing 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 approximately $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth approximately $39,000. Abound Wealth Management increased its position in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Sachetta LLC increased its position in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX traded up $0.50 during trading on Friday, reaching $274.35. 1,370,415 shares of the company traded hands, compared to its average volume of 1,819,672. The company’s 50 day moving average is $277.10 and its two-hundred day moving average is $274.96. The firm has a market capitalization of $67.03 billion, a PE ratio of 16.92, a PEG ratio of 1.10 and a beta of 1.17. 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 52 week low of $234.45 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last released its earnings results 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 net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the company posted $4.55 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FDX. UBS Group lowered their price target on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Bank of America decreased their target price on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Raymond James decreased their target price on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, September 20th. The Goldman Sachs Group decreased their target price on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Finally, Evercore ISI decreased their target price on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

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.