Van ECK Associates Corp acquired a new stake in FedEx Co. (NYSE:FDX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,673 shares of the shipping service provider’s stock, valued at approximately $607,000.

Several other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of FedEx by 14,866.7% during the first quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock valued at $108,000 after purchasing an additional 446 shares during the last quarter. Vigilant Capital Management LLC purchased a new stake in shares of FedEx during the second quarter valued at $114,000. IMA Wealth Inc. purchased a new stake in shares of FedEx during the second quarter valued at $136,000. Trust Department MB Financial Bank N A purchased a new stake in shares of FedEx during the second quarter valued at $141,000. Finally, Kaizen Advisory LLC lifted its holdings in shares of FedEx by 174.2% during the second quarter. Kaizen Advisory LLC now owns 647 shares of the shipping service provider’s stock valued at $147,000 after purchasing an additional 411 shares during the last quarter. Institutional investors and hedge funds own 72.48% of the company’s stock.

Shares of FDX stock opened at $255.73 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 0.79. FedEx Co. has a fifty-two week low of $214.11 and a fifty-two week high of $274.66. The stock has a market capitalization of $67.55 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.16 and a beta of 1.45.

FedEx (NYSE:FDX) last issued its earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.80 by ($0.34). FedEx had a return on equity of 23.17% and a net margin of 6.99%. The firm had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.88 billion. During the same period in the previous year, the company earned $2.65 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts expect that FedEx Co. will post 17.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, September 7th. FedEx’s payout ratio is currently 16.98%.

Several brokerages have recently commented on FDX. Morgan Stanley reduced their target price on FedEx from $248.00 to $245.00 and set an “equal weight” rating for the company in a report on Wednesday, June 20th. Credit Suisse Group upped their target price on FedEx from $306.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, June 20th. Oppenheimer upped their target price on FedEx from $282.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, June 14th. UBS Group downgraded FedEx from a “buy” rating to a “neutral” rating and set a $256.00 target price for the company. in a report on Monday, July 16th. Finally, Loop Capital reduced their target price on FedEx to $310.00 and set a “buy” rating for the company in a report on Thursday, June 21st. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $287.70.

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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