Segall Bryant & Hamill LLC Makes New $12.20 Million Investment in FedEx Co. (NYSE:FDX)

Segall Bryant & Hamill LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the third quarter, HoldingsChannel.com reports. The fund purchased 44,558 shares of the shipping service provider’s stock, valued at approximately $12,195,000.

Several other institutional investors have also modified their holdings of FDX. Evermay Wealth Management LLC grew its holdings in FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC purchased a new stake in shares of FedEx in the second quarter valued at about $39,000. Abound Wealth Management grew its position in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx in the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 1.7 %

NYSE FDX opened at $288.03 on Thursday. The company’s 50 day moving average price is $275.89 and its 200 day moving average price is $277.02. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market capitalization of $70.37 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.23 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter in the previous year, the business posted $4.55 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.92%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus lowered their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Evercore ISI reduced their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group dropped their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Stephens reaffirmed an “overweight” rating and set a $350.00 price target on shares of FedEx in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $316.04.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.