FedEx Co. (NYSE:FDX) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in FedEx Co. (NYSE:FDX) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,975,531 shares of the shipping service provider’s stock after buying an additional 314,380 shares during the quarter. Franklin Resources Inc. owned about 1.63% of FedEx worth $1,042,050,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in FedEx by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock worth $1,281,335,000 after buying an additional 67,502 shares during the period. Ameriprise Financial Inc. boosted its position in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after purchasing an additional 121,240 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in FedEx by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after purchasing an additional 11,100 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after purchasing an additional 13,093 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 0.9 %

Shares of NYSE:FDX opened at $283.80 on Friday. The business has a 50-day moving average price of $280.84 and a 200 day moving average price of $280.63. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $69.34 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.17 and a beta of 1.18. FedEx Co. has a 12-month low of $234.45 and a 12-month 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 the consensus estimate of $4.82 by ($1.22). The firm 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 business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm 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. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research report on Friday, September 20th. Citigroup raised their price objective on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price objective on FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Barclays raised their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, BMO Capital Markets decreased their price objective on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.68.

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.