Glenmede Trust Co. NA Buys 2,064 Shares of FedEx Co. (NYSE:FDX)

Glenmede Trust Co. NA boosted its stake in shares of FedEx Co. (NYSE:FDX) by 3.8% during the third quarter, Holdings Channel.com reports. The fund owned 56,847 shares of the shipping service provider’s stock after acquiring an additional 2,064 shares during the period. Glenmede Trust Co. NA’s holdings in FedEx were worth $15,558,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC increased its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares during the period. Highline Wealth Partners LLC bought a new position in FedEx in the 3rd quarter valued at about $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx in the 2nd quarter valued at approximately $39,000. Abound Wealth Management lifted its holdings in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx during the 3rd quarter worth approximately $47,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FDX has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Stifel Nicolaus dropped their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Susquehanna lowered their target price on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Finally, BMO Capital Markets reduced their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Trading Up 0.1 %

Shares of FedEx stock opened at $303.39 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The stock has a 50 day moving average price of $276.86 and a two-hundred day moving average price of $278.60. The stock has a market capitalization of $74.13 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17.

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

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx’s dividend payout ratio (DPR) is currently 34.05%.

FedEx 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.