Ossiam Grows Position in FedEx Co. (NYSE:FDX)

Ossiam boosted its position in FedEx Co. (NYSE:FDX) by 1,889.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,975 shares of the shipping service provider’s stock after purchasing an additional 18,021 shares during the quarter. Ossiam’s holdings in FedEx were worth $5,312,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FDX. OLD Mission Capital LLC bought a new position in FedEx in the third quarter worth about $219,000. Maverick Capital Ltd. acquired a new position in shares of FedEx during the first quarter valued at about $1,911,000. E Fund Management Co. Ltd. acquired a new position in shares of FedEx during the first quarter valued at about $122,000. Quilter Plc increased its holdings in shares of FedEx by 736.4% during the first quarter. Quilter Plc now owns 10,279 shares of the shipping service provider’s stock valued at $2,919,000 after acquiring an additional 9,050 shares in the last quarter. Finally, Clayton Partners LLC acquired a new position in shares of FedEx during the first quarter valued at about $2,144,000. Institutional investors and hedge funds own 72.64% of the company’s stock.

Shares of NYSE:FDX traded up $4.18 during midday trading on Thursday, reaching $227.91. 27,254 shares of the company’s stock traded hands, compared to its average volume of 4,511,517. FedEx Co. has a 1 year low of $216.34 and a 1 year high of $319.90. The company has a market cap of $60.54 billion, a P/E ratio of 11.89, a PEG ratio of 0.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.47 and a current ratio of 1.51. The company has a fifty day simple moving average of $252.69 and a two-hundred day simple moving average of $280.28.

FedEx (NYSE:FDX) last announced its earnings results on Monday, September 20th. The shipping service provider reported $4.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.92 by ($0.55). FedEx had a net margin of 5.88% and a return on equity of 20.93%. The business had revenue of $22 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter last year, the business earned $4.87 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 19.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 3rd were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.32%. The ex-dividend date was Thursday, September 2nd. FedEx’s dividend payout ratio is currently 16.51%.

A number of equities research analysts recently commented on the company. KeyCorp dropped their target price on FedEx from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 22nd. Cowen dropped their target price on FedEx from $297.00 to $283.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 6th. Argus dropped their target price on FedEx from $330.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, September 23rd. They noted that the move was a valuation call. Citigroup dropped their target price on FedEx from $360.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 22nd. Finally, Stephens dropped their target price on FedEx from $360.00 to $330.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $315.13.

About FedEx

FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

See Also: Return on Equity (ROE)

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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