Mendel Money Management Buys New Stake in FedEx Co. (FDX)

Mendel Money Management bought a new position in shares of FedEx Co. (NYSE:FDX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,214 shares of the shipping service provider’s stock, valued at approximately $3,904,000. FedEx comprises 3.8% of Mendel Money Management’s portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in FDX. Palo Capital Inc. acquired a new position in FedEx during the third quarter worth about $108,000. Vigilant Capital Management LLC acquired a new position in FedEx during the second quarter worth about $114,000. Moneta Group Investment Advisors LLC raised its position in FedEx by 14,117.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock worth $114,000 after acquiring an additional 63,386 shares during the last quarter. Fortis Advisors LLC raised its position in FedEx by 278.2% during the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock worth $115,000 after acquiring an additional 370 shares during the last quarter. Finally, Lenox Wealth Advisors LLC acquired a new position in FedEx during the third quarter worth about $120,000. Institutional investors own 72.91% of the company’s stock.

FedEx stock opened at $211.04 on Tuesday. FedEx Co. has a 1 year low of $207.90 and a 1 year high of $274.66. The company has a market capitalization of $55.48 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.95 and a beta of 1.44. 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 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). FedEx had a net margin of 7.16% and a return on equity of 23.71%. The company had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.88 billion. During the same quarter in the previous year, the firm posted $2.65 earnings per share. FedEx’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, research analysts predict that FedEx Co. will post 17.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 7th. This represents a $2.60 annualized dividend and a yield of 1.23%. FedEx’s dividend payout ratio is currently 16.98%.

In other FedEx news, Director Susan Patricia Griffith acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was bought at an average cost of $225.16 per share, for a total transaction of $225,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total transaction of $281,126.00. Following the sale, the director now owns 32,800 shares of the company’s stock, valued at $7,949,080. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

A number of research firms have recently weighed in on FDX. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Morgan Stanley set a $240.00 price objective on shares of FedEx and gave the company a “hold” rating in a research report on Monday, October 22nd. 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. 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, Loop Capital boosted their price objective on shares of FedEx to $318.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $285.18.

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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