First Commonwealth Financial Corp PA Has $919,000 Position in FedEx Co. (NYSE:FDX)

First Commonwealth Financial Corp PA lifted its holdings in FedEx Co. (NYSE:FDX) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,357 shares of the shipping service provider’s stock after buying an additional 47 shares during the period. First Commonwealth Financial Corp PA’s holdings in FedEx were worth $919,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FDX. SeaCrest Wealth Management LLC boosted its holdings in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after acquiring an additional 34 shares during the last quarter. LRI Investments LLC lifted its holdings in FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC boosted its stake in FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC raised its position in shares of FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after acquiring an additional 37 shares during the last quarter. Finally, Sachetta LLC raised its position in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.6 %

FDX traded up $1.80 on Wednesday, hitting $304.78. 56,421 shares of the company were exchanged, compared to its average volume of 1,794,803. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock’s fifty day moving average is $276.70 and its 200-day moving average is $278.25. The company has a market cap of $74.46 billion, a PE ratio of 18.69, a PEG ratio of 1.27 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.55 earnings per share. Equities research analysts predict that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 1.81%. FedEx’s dividend payout ratio is 34.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FDX shares. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Evercore ISI lowered their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Barclays lifted their price target on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lowered their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.