Dumont & Blake Investment Advisors LLC raised its stake in FedEx Co. (NYSE:FDX) by 6.6% during the 3rd quarter, Holdings Channel reports. The firm owned 5,874 shares of the shipping service provider’s stock after acquiring an additional 364 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in FedEx were worth $1,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in FDX. Bank of Montreal Can acquired a new stake in shares of FedEx in the 2nd quarter valued at approximately $216,966,000. PNC Financial Services Group Inc. lifted its holdings in shares of FedEx by 209.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 419,755 shares of the shipping service provider’s stock valued at $95,309,000 after buying an additional 284,134 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of FedEx in the 2nd quarter valued at approximately $62,966,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of FedEx in the 2nd quarter valued at approximately $58,442,000. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of FedEx by 23,047.7% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 240,736 shares of the shipping service provider’s stock valued at $1,049,000 after buying an additional 239,696 shares during the period. Institutional investors own 72.85% of the company’s stock.

In related news, Director Susan Patricia Griffith purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was bought at an average cost of $225.16 per share, with a total value of $225,160.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the transaction, the director now directly owns 32,800 shares of the company’s stock, valued at $7,949,080. The disclosure for this sale can be found here. Insiders own 8.45% of the company’s stock.

Several analysts have recently commented on FDX shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $286.00 price target on shares of FedEx in a report on Friday, October 12th. Berenberg Bank initiated coverage on FedEx in a report on Friday, September 21st. They set a “buy” rating and a $300.00 price objective for the company. Bank of America reduced their price objective on FedEx from $310.00 to $304.00 and set a “buy” rating for the company in a report on Tuesday, September 18th. Wolfe Research set a $275.00 price objective on FedEx and gave the stock a “buy” rating in a report on Tuesday, September 18th. Finally, Loop Capital lifted their price objective on FedEx to $318.00 and gave the stock a “buy” rating in a report on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. FedEx presently has an average rating of “Buy” and a consensus price target of $285.27.

Shares of FDX stock opened at $219.80 on Friday. The firm has a market cap of $57.26 billion, a P/E ratio of 13.35, a PEG ratio of 0.98 and a beta of 1.44. FedEx Co. has a 1 year low of $214.17 and a 1 year high of $274.66. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79.

FedEx (NYSE:FDX) last released its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.88 billion. During the same period last year, the firm earned $2.65 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, research analysts predict that FedEx Co. will post 17.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were issued a $0.65 dividend. The ex-dividend date was Friday, September 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.18%. FedEx’s dividend payout ratio (DPR) is 16.98%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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