3,632 Shares in FedEx Corporation $FDX Purchased by Sawyer & Company Inc

Sawyer & Company Inc acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the third quarter, HoldingsChannel.com reports. The fund acquired 3,632 shares of the shipping service provider’s stock, valued at approximately $1,035,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hollencrest Capital Management bought a new position in shares of FedEx during the first quarter worth $25,000. Bayban purchased a new position in FedEx during the first quarter valued at $26,000. Solstein Capital LLC bought a new stake in FedEx in the 2nd quarter valued at $27,000. Cedar Mountain Advisors LLC increased its holdings in FedEx by 77.4% in the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 41 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in FedEx in the 2nd quarter worth $31,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX traded down $0.08 during trading hours on Wednesday, hitting $298.68. The company’s stock had a trading volume of 247,529 shares, compared to its average volume of 2,002,354. The stock has a market cap of $70.69 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.50 and a beta of 1.28. The business’s 50-day moving average price is $308.35 and its 200-day moving average price is $333.24. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $187.62 and a 12 month high of $345.36.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion during the quarter. Sell-side analysts expect that FedEx Corporation will post 18.27 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were issued a $1.22 dividend. The ex-dividend date was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s payout ratio is 26.36%.

Wall Street Analyst Weigh In

FDX has been the subject of several research reports. Bank of America reissued a “buy” rating and set a $140.00 price objective on shares of FedEx in a report on Tuesday, September 29th. TD Cowen cut their price objective on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Weiss Ratings cut FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. Citizens Jmp began coverage on FedEx in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 target price on the stock. Finally, BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.64.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.