BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stake in FedEx Co. (NYSE:FDX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of FedEx Co. (NYSE:FDX) by 57.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,815 shares of the shipping service provider’s stock after buying an additional 16,382 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in FedEx were worth $13,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FDX. SeaCrest Wealth Management LLC grew its holdings in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC grew its holdings in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC grew its holdings in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC grew its holdings 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 purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC grew its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $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.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. Bernstein Bank raised their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Raymond James dropped their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Finally, Argus raised their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.74.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 over the last three months. 8.73% of the stock is currently owned by company insiders.

FedEx Stock Up 3.2 %

Shares of FedEx stock opened at $267.20 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market capitalization of $65.75 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.03 and a beta of 1.17. FedEx Co. has a 52-week low of $224.69 and a 52-week high of $313.84. The company has a 50-day simple moving average of $290.58 and a two-hundred day simple moving average of $275.42.

FedEx (NYSE:FDX) last announced 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 16.70% and a net margin of 4.94%. The company had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, analysts anticipate that FedEx Co. will post 20.82 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.07%. FedEx’s dividend payout ratio is presently 32.04%.

FedEx Company 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.