Turtle Creek Wealth Advisors LLC Grows Holdings in FedEx Co. (NYSE:FDX)

Turtle Creek Wealth Advisors LLC lifted its position in shares of FedEx Co. (NYSE:FDX) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,020 shares of the shipping service provider’s stock after acquiring an additional 39 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in FedEx were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FDX. Vanguard Group Inc. grew its holdings in FedEx by 5.6% in 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 purchasing an additional 1,056,061 shares during the period. Capital International Investors lifted its position in shares of 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 buying an additional 2,163,622 shares in the last quarter. Ameriprise Financial Inc. grew its stake in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares during the period. Dimensional Fund Advisors LP increased its holdings in FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after acquiring an additional 121,240 shares in the last quarter. Finally, Sentry LLC raised its position in FedEx by 0.5% during the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after acquiring an additional 6,657 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Up 0.7 %

Shares of FDX stock traded up $2.17 during trading hours on Friday, hitting $294.46. The company had a trading volume of 1,506,570 shares, compared to its average volume of 1,805,906. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The stock has a market capitalization of $71.94 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17. The company’s fifty day moving average is $275.40 and its 200 day moving average is $276.27. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last released 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 return on equity of 15.61% and a net margin of 4.62%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter last year, the company earned $4.55 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Wall Street Analyst Weigh In

FDX has been the subject of a number of research reports. Morgan Stanley cut shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Raymond James cut their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Robert W. Baird lowered their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Wednesday. 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 stock. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $316.04.

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.