CLS Investments LLC Increases Stake in FedEx Co. (FDX)

CLS Investments LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,552 shares of the shipping service provider’s stock after acquiring an additional 624 shares during the period. CLS Investments LLC’s holdings in FedEx were worth $2,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Palo Capital Inc. purchased a new position in shares of FedEx during the third quarter worth approximately $108,000. Lenox Wealth Advisors LLC purchased a new position in shares of FedEx during the third quarter worth approximately $120,000. Fortis Advisors LLC grew its position in shares of 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. TRUE Private Wealth Advisors purchased a new position in shares of FedEx during the third quarter worth approximately $134,000. Finally, Qube Research & Technologies Ltd purchased a new position in FedEx in the 2nd quarter valued at $129,000. Institutional investors and hedge funds own 71.23% of the company’s stock.

FDX has been the topic of a number of analyst reports. Zacks Investment Research upgraded 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. reiterated a “buy” rating and issued a $305.00 price objective on shares of FedEx in a research report on Tuesday, September 18th. Finally, Citigroup lowered their price objective on shares of FedEx from $304.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company. FedEx has an average rating of “Buy” and a consensus target price of $286.35.

FedEx stock opened at $229.00 on Friday. FedEx Co. has a one year low of $207.90 and a one year high of $274.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.26. The firm has a market capitalization of $59.95 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 1.03 and a beta of 1.36.

FedEx (NYSE:FDX) last released its earnings results on Monday, September 17th. The shipping service provider reported $3.46 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 business had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.88 billion. During the same period last year, the business posted $2.65 EPS. FedEx’s revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that FedEx Co. will post 17.35 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, December 7th. FedEx’s dividend payout ratio (DPR) is currently 16.98%.

In other FedEx news, Director Susan Patricia Griffith bought 1,000 shares of FedEx stock in a transaction on Wednesday, October 17th. The stock was bought at an average price of $225.16 per share, with a total value of $225,160.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by company insiders.

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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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