BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 6,088 Shares of FedEx Co. (NYSE:FDX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in FedEx Co. (NYSE:FDX - Free Report) by 13.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,727 shares of the shipping service provider's stock after selling 6,088 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in FedEx were worth $10,599,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Evermay Wealth Management LLC lifted its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider's stock worth $26,000 after buying an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC acquired a new position in FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management grew its stake in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider's stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of FedEx during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Price Performance

FedEx stock traded down $5.89 during midday trading on Monday, reaching $296.78. The company's stock had a trading volume of 1,568,409 shares, compared to its average volume of 1,792,762. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a market cap of $72.51 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The business has a 50-day moving average price of $277.83 and a 200-day moving average price of $279.12.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period last year, the firm posted $4.55 earnings per share. The company's revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's dividend payout ratio (DPR) is 34.05%.

Analysts Set New Price Targets

FDX has been the subject of several recent analyst reports. HSBC downgraded FedEx from a "buy" rating to a "hold" rating and set a $300.00 price objective for the company. in a report on Friday, September 20th. Barclays lifted their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Bernstein Bank upped their target price on shares of FedEx from $305.00 to $337.00 and gave the company an "overweight" rating in a report on Friday, September 20th. Bank of America reduced their price target on FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. Finally, UBS Group lowered their price target on FedEx from $333.00 to $311.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $316.04.

About FedEx

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.