FedEx Co. (NYSE:FDX) Shares Sold by Canoe Financial LP

Canoe Financial LP reduced its stake in FedEx Co. (NYSE:FDX - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,306 shares of the shipping service provider's stock after selling 100,341 shares during the period. Canoe Financial LP owned about 0.06% of FedEx worth $42,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Fortitude Family Office LLC grew its stake in shares of FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC grew 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 acquiring an additional 40 shares during the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx in the 4th quarter worth about $28,000. FNY Investment Advisers LLC raised its position in FedEx by 177.5% in the fourth quarter. FNY Investment Advisers LLC now owns 111 shares of the shipping service provider's stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of FedEx during the third quarter valued at about $31,000. 84.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company's stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company's stock.

FedEx Trading Down 0.8 %

Shares of NYSE:FDX traded down $2.26 on Friday, reaching $275.11. 1,577,458 shares of the company traded hands, compared to its average volume of 1,877,061. The stock has a market capitalization of $66.26 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The business's 50-day simple moving average is $283.48 and its 200 day simple moving average is $283.94. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.99 EPS. As a group, equities analysts anticipate that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 9th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Monday, December 9th. FedEx's payout ratio is 35.18%.

Analyst Ratings Changes

Several research analysts have recently issued reports on FDX shares. StockNews.com raised FedEx from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. Barclays upped their price target 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. Wells Fargo & Company lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an "equal weight" rating in a report on Friday, December 20th. Sanford C. Bernstein downgraded FedEx from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. Finally, BMO Capital Markets lifted their target price on FedEx from $300.00 to $330.00 and gave the stock a "market perform" rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $325.61.

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.