Great Valley Advisor Group Inc. Purchases 120 Shares of FedEx Co. (NYSE:FDX)

Great Valley Advisor Group Inc. boosted its position in shares of FedEx Co. (NYSE:FDX) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,325 shares of the shipping service provider’s stock after purchasing an additional 120 shares during the period. Great Valley Advisor Group Inc.’s holdings in FedEx were worth $6,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in FedEx by 34.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares during the period. Ceredex Value Advisors LLC grew its position in FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after acquiring an additional 161,022 shares during the last quarter. Empyrean Capital Partners LP bought a new position in FedEx in the 2nd quarter valued at $46,475,000. Finally, Interval Partners LP lifted its position in shares of FedEx by 408.3% during the second quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock worth $57,296,000 after purchasing an additional 153,497 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 1.6 %

NYSE FDX opened at $299.97 on Friday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a 50 day moving average price of $276.34 and a 200 day moving average price of $277.54. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market cap of $73.29 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is presently 34.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FDX shares. Bernstein Bank upped their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Evercore ISI dropped their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Stephens reaffirmed an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Daiwa America cut FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Bank of America reduced their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Company 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.