CANADA LIFE ASSURANCE Co Buys 4,447 Shares of FedEx Co. (NYSE:FDX)

CANADA LIFE ASSURANCE Co boosted its stake in FedEx Co. (NYSE:FDX - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 226,115 shares of the shipping service provider's stock after acquiring an additional 4,447 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.09% of FedEx worth $63,628,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Regal Investment Advisors LLC boosted its position in shares of FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after acquiring an additional 38 shares in the last quarter. Cetera Trust Company N.A raised its holdings in shares of FedEx by 0.5% during the 4th quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider's stock worth $2,230,000 after buying an additional 40 shares in the last quarter. Griffin Asset Management Inc. lifted its position in shares of FedEx by 0.4% during the 4th quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock worth $2,916,000 after buying an additional 40 shares during the last quarter. Aviso Financial Inc. boosted its stake in FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after buying an additional 40 shares in the last quarter. Finally, Garner Asset Management Corp grew its position in FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock valued at $1,659,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the topic of several research reports. UBS Group decreased their price target on shares of FedEx from $350.00 to $331.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Stephens lowered their price target on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Wells Fargo & Company lowered their target price on FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a report on Tuesday. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and reduced their price target for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Finally, TD Cowen lowered their price objective on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $298.96.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on 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 owns 23,347 shares of the company's stock, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is owned by corporate insiders.

FedEx Stock Up 2.1 %

FDX stock traded up $4.24 during mid-day trading on Wednesday, reaching $210.81. 565,648 shares of the company traded hands, compared to its average volume of 1,771,709. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm's 50 day moving average price is $236.77 and its 200 day moving average price is $262.84. The stock has a market cap of $50.51 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.11 and a beta of 1.24. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is currently 34.63%.

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.