Caisse DE Depot ET Placement DU Quebec Acquires 138,856 Shares of FedEx Co. (NYSE:FDX)

Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 86.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,571 shares of the shipping service provider's stock after purchasing an additional 138,856 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.12% of FedEx worth $81,713,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its position in shares of FedEx by 117.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 77,974 shares of the shipping service provider's stock worth $21,343,000 after purchasing an additional 42,034 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in FedEx by 11.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 21,778 shares of the shipping service provider's stock valued at $5,960,000 after purchasing an additional 2,214 shares during the period. Vinva Investment Management Ltd boosted its holdings in FedEx by 139.1% in the 3rd quarter. Vinva Investment Management Ltd now owns 10,033 shares of the shipping service provider's stock valued at $2,684,000 after purchasing an additional 5,836 shares during the period. Fiduciary Trust Co lifted its holdings in shares of FedEx by 45.6% during the 3rd quarter. Fiduciary Trust Co now owns 3,294 shares of the shipping service provider's stock worth $902,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of FedEx by 27.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 121,433 shares of the shipping service provider's stock valued at $33,234,000 after acquiring an additional 26,260 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 0.2 %

Shares of NYSE:FDX traded down $0.72 during midday trading on Friday, reaching $302.67. The company had a trading volume of 665,504 shares, compared to its average volume of 1,464,381. The company has a fifty day simple moving average of $277.83 and a two-hundred day simple moving average of $279.12. The firm has a market cap of $73.95 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $21.87 billion. During the same period in the prior year, the company posted $4.55 earnings per share. The firm's revenue was down .5% on a year-over-year basis. Research analysts predict that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx's dividend payout ratio (DPR) is currently 34.05%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FDX. Bank of America lowered their price objective on shares of FedEx from $347.00 to $345.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Robert W. Baird reduced their price target on shares of FedEx from $340.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, September 20th. Stephens reaffirmed an "overweight" rating and issued a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Citigroup upped their price objective on shares of FedEx from $301.00 to $331.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Hsbc Global Res cut shares of FedEx from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.