Canada Post Corp Registered Pension Plan Takes Position in FedEx Co. (NYSE:FDX)

Canada Post Corp Registered Pension Plan purchased a new stake in FedEx Co. (NYSE:FDX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,914 shares of the shipping service provider's stock, valued at approximately $820,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. bLong Financial LLC purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $391,000. Virtu Financial LLC purchased a new position in shares of FedEx during the third quarter valued at $3,405,000. Lodestone Wealth Management LLC purchased a new stake in FedEx in the 4th quarter worth about $461,000. Wedmont Private Capital grew its stake in FedEx by 4.1% during the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock valued at $631,000 after acquiring an additional 91 shares in the last quarter. Finally, GFS Advisors LLC purchased a new stake in shares of FedEx in the fourth quarter worth approximately $26,855,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Price Performance

Shares of NYSE FDX traded up $3.89 during mid-day trading on Friday, hitting $207.45. 1,106,975 shares of the stock were exchanged, compared to its average volume of 1,778,350. The company has a market cap of $49.71 billion, a P/E ratio of 13.22, a PEG ratio of 1.11 and a beta of 1.24. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The stock's fifty day simple moving average is $239.05 and its two-hundred day simple moving average is $263.62. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the company posted $3.86 EPS. FedEx's revenue for the quarter was up 1.9% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.66%. FedEx's dividend payout ratio (DPR) is currently 34.63%.

Analyst Ratings Changes

Several equities analysts have recently commented on FDX shares. Bank of America lowered their price target on shares of FedEx from $295.00 to $272.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Loop Capital lowered FedEx from a "hold" rating to a "sell" rating and reduced their price target for the company from $283.00 to $221.00 in a report on Friday, March 21st. Truist Financial assumed coverage on shares of FedEx in a research report on Thursday, March 13th. They set a "buy" rating and a $305.00 price objective on the stock. Piper Sandler lowered shares of FedEx to a "neutral" rating in a research note on Monday, February 3rd. Finally, Barclays decreased their price objective on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $300.63.

Insider Activity

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.87% of the stock is currently owned by insiders.

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.