Fifth Third Wealth Advisors LLC Purchases 484 Shares of FedEx Co. (NYSE:FDX)

Fifth Third Wealth Advisors LLC raised its position in FedEx Co. (NYSE:FDX) by 15.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,580 shares of the shipping service provider’s stock after purchasing an additional 484 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in FedEx were worth $980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank grew its stake in shares of FedEx by 6.4% in the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after acquiring an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth approximately $9,226,000. Raymond James & Associates increased its holdings in shares of FedEx by 6.9% during the third quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider’s stock worth $132,926,000 after purchasing an additional 31,241 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of FedEx in the second quarter valued at approximately $22,052,000. Finally, Versor Investments LP bought a new stake in shares of FedEx in the third quarter valued at approximately $2,096,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $293.02 on Wednesday. The company has a market capitalization of $71.59 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.23 and a beta of 1.17. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The stock has a fifty day simple moving average of $275.82 and a 200 day simple moving average of $276.94. 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 (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $4.55 earnings per share. Sell-side analysts expect that FedEx Co. will post 19.59 EPS 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 paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

Analyst Ratings Changes

Several equities analysts have weighed in on FDX shares. The Goldman Sachs Group dropped their price objective on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. UBS Group dropped their price target on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Finally, Loop Capital cut their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $316.04.

FedEx Profile

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.