ING Groep NV Raises Stock Holdings in FedEx Co. (NYSE:FDX)

by · The Cerbat Gem

ING Groep NV raised its stake in FedEx Co. (NYSE:FDX – Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,041 shares of the shipping service provider’s stock after buying an additional 2,577 shares during the period. ING Groep NV’s holdings in FedEx were worth $9,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital International Investors increased its position in FedEx by 32.5% during the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after purchasing an additional 2,163,622 shares during the period. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. boosted its position in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its holdings in FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.7 %

Shares of FedEx stock opened at $294.46 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a market capitalization of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17. The company has a 50 day moving average of $275.18 and a 200 day moving average of $276.07.

FedEx (NYSE:FDX – Get Free Report) last issued its 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). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.55 EPS. As a group, research analysts forecast that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.87%. FedEx’s payout ratio is 34.05%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FDX shares. TD Cowen cut their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday. Susquehanna reduced their price objective on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Bernstein Bank raised their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Loop Capital decreased their price target on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.04.

Get Our Latest Stock Report on FedEx

About FedEx

(Free Report)

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.

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