Bridgewater Associates LP Grows Position in FedEx Co. (NYSE:FDX)

Bridgewater Associates LP boosted its position in FedEx Co. (NYSE:FDX) by 38.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,022 shares of the shipping service provider’s stock after acquiring an additional 6,994 shares during the quarter. Bridgewater Associates LP’s holdings in FedEx were worth $6,848,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FDX. Evermay Wealth Management LLC lifted its position in shares of FedEx by 72.7% during the 3rd 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 last quarter. Highline Wealth Partners LLC purchased a new stake in FedEx during the 3rd quarter worth about $31,000. Central Valley Advisors LLC acquired a new position in shares of FedEx during the 2nd quarter worth about $39,000. Abound Wealth Management increased its holdings in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Barclays increased their target price on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price target 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. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 in a research note on Friday, September 20th. Finally, Bernstein Bank lifted their target price on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Performance

FDX opened at $302.74 on Friday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The stock has a market cap of $73.97 billion, a P/E ratio of 18.68, a P/E/G ratio of 1.27 and a beta of 1.17. The stock’s 50 day simple moving average is $277.83 and its 200 day simple moving average is $278.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

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

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. FedEx’s dividend payout ratio is currently 34.05%.

About FedEx

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.