Financial Advocates Investment Management lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,290 shares of the shipping service provider’s stock after selling 267 shares during the period. Financial Advocates Investment Management’s holdings in FedEx were worth $525,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FDX. Neuberger Berman Group LLC raised its position in FedEx by 10.2% during the 1st quarter. Neuberger Berman Group LLC now owns 2,234,433 shares of the shipping service provider’s stock worth $536,510,000 after buying an additional 206,147 shares during the last quarter. Artisan Partners Limited Partnership raised its position in FedEx by 3.7% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,242,435 shares of the shipping service provider’s stock worth $298,321,000 after buying an additional 44,645 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in FedEx by 2.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 999,041 shares of the shipping service provider’s stock worth $226,843,000 after buying an additional 23,176 shares during the last quarter. Bank of Montreal Can purchased a new position in FedEx during the 2nd quarter worth $216,966,000. Finally, Swiss National Bank raised its position in FedEx by 2.9% during the 2nd quarter. Swiss National Bank now owns 841,168 shares of the shipping service provider’s stock worth $190,996,000 after buying an additional 23,900 shares during the last quarter. Hedge funds and other institutional investors own 72.70% of the company’s stock.

Shares of FDX opened at $245.02 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.39 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $65.30 billion, a PE ratio of 16.12, a P/E/G ratio of 1.12 and a beta of 1.43. FedEx Co. has a 52-week low of $207.19 and a 52-week high of $274.66.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 19th. The shipping service provider reported $5.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.72 by $0.19. The business had revenue of $17.31 billion during the quarter, compared to the consensus estimate of $17.24 billion. FedEx had a net margin of 6.99% and a return on equity of 23.17%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.25 EPS. equities research analysts forecast that FedEx Co. will post 17.31 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.06%. FedEx’s dividend payout ratio is presently 16.98%.

FDX has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on shares of FedEx from $248.00 to $245.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 20th. UBS Group downgraded 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. Citigroup upped their price objective on shares of FedEx from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 16th. Zacks Investment Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $282.00 price objective for the company in a research report on Wednesday, May 30th. Finally, Oppenheimer upped their price objective on shares of FedEx from $282.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, June 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $283.75.

About FedEx

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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