Bank of Montreal Can Raises Stake in FedEx Co. (NYSE:FDX)

Bank of Montreal Can boosted its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,913 shares of the shipping service provider's stock after purchasing an additional 17,062 shares during the quarter. Bank of Montreal Can owned approximately 0.14% of FedEx worth $88,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Czech National Bank grew its holdings in FedEx by 6.4% during the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock worth $12,564,000 after acquiring an additional 2,767 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in FedEx in the second quarter valued at $9,226,000. Raymond James & Associates boosted its position in shares of FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider's stock worth $132,926,000 after acquiring an additional 31,241 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of FedEx during the 2nd quarter worth about $22,052,000. Finally, Versor Investments LP acquired a new position in FedEx in the third quarter valued at approximately $2,096,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Price Performance

Shares of NYSE:FDX traded up $1.13 during trading on Wednesday, hitting $304.11. 89,166 shares of the stock were exchanged, compared to its average volume of 1,794,801. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The company has a market cap of $74.30 billion, a PE ratio of 18.69, a P/E/G ratio of 1.27 and a beta of 1.17. The company has a fifty day moving average price of $276.70 and a two-hundred day moving average price of $278.25. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX - Get Free Report) last posted 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 analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm's revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $4.55 EPS. On average, analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx's dividend payout ratio (DPR) is presently 34.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FDX. TD Cowen lowered their target price on shares of FedEx from $334.00 to $328.00 and set a "buy" rating for the company in a report on Friday, September 20th. Hsbc Global Res downgraded FedEx from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 20th. HSBC cut FedEx from a "buy" rating to a "hold" rating and set a $300.00 price objective for the company. in a research note on Friday, September 20th. Stifel Nicolaus lowered their target price on shares of FedEx from $327.00 to $321.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Finally, UBS Group reduced their price target on shares of FedEx from $333.00 to $311.00 and set a "buy" rating for the company in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.