Peapack Gladstone Financial Corp raised its holdings in FedEx Co. (NYSE:FDX) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,507 shares of the shipping service provider’s stock after acquiring an additional 7,612 shares during the period. Peapack Gladstone Financial Corp’s holdings in FedEx were worth $9,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of FDX. FormulaFolio Investments LLC boosted its holdings in shares of FedEx by 27.4% in the 2nd quarter. FormulaFolio Investments LLC now owns 6,201 shares of the shipping service provider’s stock valued at $1,408,000 after purchasing an additional 1,335 shares in the last quarter. Homrich & Berg boosted its holdings in shares of FedEx by 21.0% during the 2nd quarter. Homrich & Berg now owns 3,130 shares of the shipping service provider’s stock valued at $711,000 after acquiring an additional 544 shares in the last quarter. Achmea Investment Management B.V. boosted its holdings in shares of FedEx by 24.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 4,356 shares of the shipping service provider’s stock valued at $987,000 after acquiring an additional 853 shares in the last quarter. Palladium Partners LLC boosted its holdings in shares of FedEx by 5.4% during the 2nd quarter. Palladium Partners LLC now owns 39,210 shares of the shipping service provider’s stock valued at $8,904,000 after acquiring an additional 2,026 shares in the last quarter. Finally, Concentric Wealth Management LLC boosted its holdings in shares of FedEx by 3.9% during the 2nd quarter. Concentric Wealth Management LLC now owns 10,492 shares of the shipping service provider’s stock valued at $2,382,000 after acquiring an additional 393 shares in the last quarter. 72.54% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on FDX shares. Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Morgan Stanley raised their target price on FedEx from $240.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Monday, June 4th. Loop Capital lowered their target price on FedEx to $310.00 and set a “buy” rating for the company in a research report on Thursday, June 21st. Credit Suisse Group raised their target price on FedEx from $306.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 20th. Finally, Oppenheimer raised their target price on FedEx from $282.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, June 14th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. FedEx presently has a consensus rating of “Buy” and a consensus target price of $287.70.

Shares of NYSE FDX traded up $2.27 during midday trading on Friday, reaching $255.44. The company’s stock had a trading volume of 1,242,091 shares, compared to its average volume of 1,185,755. The company has a quick ratio of 1.33, a current ratio of 1.39 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $66.90 billion, a PE ratio of 16.68, a PEG ratio of 1.15 and a beta of 1.45. FedEx Co. has a 12-month low of $211.74 and a 12-month high of $274.66.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 19th. The shipping service provider reported $5.91 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.19. FedEx had a net margin of 6.99% and a return on equity of 23.17%. The company had revenue of $17.31 billion for the quarter, compared to analysts’ expectations of $17.24 billion. During the same quarter in the previous year, the firm posted $4.25 EPS. FedEx’s revenue was up 10.1% on a year-over-year basis. research analysts expect that FedEx Co. will post 17.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. FedEx’s payout ratio is 16.98%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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