FedEx Co. (FDX) Shares Bought by Pratt Collard Advisory Partners LLC
Pratt Collard Advisory Partners LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,488 shares of the shipping service provider’s stock after buying an additional 430 shares during the period. Pratt Collard Advisory Partners LLC’s holdings in FedEx were worth $1,321,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in FDX. Vigilant Capital Management LLC purchased a new stake in FedEx during the 2nd quarter worth $114,000. Moneta Group Investment Advisors LLC boosted its position in FedEx by 14,117.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after buying an additional 63,386 shares during the last quarter. Fortis Advisors LLC boosted its position in FedEx by 278.2% in the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after buying an additional 370 shares during the last quarter. Lenox Wealth Advisors LLC purchased a new position in FedEx in the 3rd quarter valued at about $120,000. Finally, Qube Research & Technologies Ltd purchased a new position in FedEx in the 2nd quarter valued at about $129,000. Institutional investors and hedge funds own 72.85% of the company’s stock.
A number of equities analysts have weighed in on FDX shares. UBS Group cut shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective for the company. in a research report on Monday, July 16th. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Morgan Stanley reissued a “hold” rating and issued a $242.00 price objective (down from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $305.00 price objective on shares of FedEx in a research report on Tuesday, September 18th. Finally, Credit Suisse Group set a $307.00 price objective on shares of FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. FedEx currently has an average rating of “Buy” and an average price target of $285.27.
Shares of FedEx stock opened at $219.80 on Friday. The stock has a market capitalization of $57.26 billion, a PE ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 1.44. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79. FedEx Co. has a 1 year low of $214.17 and a 1 year high of $274.66.
FedEx (NYSE:FDX) last issued its earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.32). The company had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.88 billion. FedEx had a net margin of 7.16% and a return on equity of 23.71%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. Sell-side analysts forecast that FedEx Co. will post 17.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were paid a $0.65 dividend. The ex-dividend date of this dividend 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 presently 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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