CIBC Asset Management Inc lifted its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,021 shares of the shipping service provider's stock after buying an additional 1,459 shares during the period. CIBC Asset Management Inc's holdings in FedEx were worth $9,852,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC lifted its position in FedEx by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider's stock valued at $1,281,335,000 after acquiring an additional 67,502 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in FedEx by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider's stock valued at $465,031,000 after buying an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider's stock valued at $397,267,000 after purchasing an additional 13,093 shares during the period. Finally, Sentry LLC boosted its holdings in FedEx by 0.4% in the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider's stock valued at $342,412,000 after purchasing an additional 5,404 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Sanford C. Bernstein cut shares of 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 research report on Tuesday, December 3rd. BMO Capital Markets upped their target price on shares of FedEx from $300.00 to $330.00 and gave the stock a "market perform" rating in a research note on Friday, December 20th. Stifel Nicolaus dropped their target price on shares of FedEx from $368.00 to $364.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. StockNews.com upgraded shares of FedEx from a "hold" rating to a "buy" rating in a research note on Friday, December 20th. Finally, Raymond James increased their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $321.87.
Check Out Our Latest Stock Report on FDX
Insider Activity at FedEx
In other news, CEO Richard W. Smith sold 2,576 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares in the company, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John W. Dietrich purchased 1,000 shares of the firm's stock in a transaction on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, with a total value of $273,980.00. Following the acquisition, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.
FedEx Stock Performance
Shares of FedEx stock traded down $14.49 during trading on Friday, reaching $253.97. The company's stock had a trading volume of 4,329,771 shares, compared to its average volume of 1,697,695. The company has a 50-day moving average price of $271.34 and a two-hundred day moving average price of $278.38. The firm has a market cap of $61.17 billion, a PE ratio of 16.19, a P/E/G ratio of 1.10 and a beta of 1.18. FedEx Co. has a fifty-two week low of $239.07 and a fifty-two week high of $313.84. 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 posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts' consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $3.99 EPS. On average, analysts forecast that FedEx Co. will post 19.14 EPS for the current year.
FedEx Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, March 10th. FedEx's dividend payout ratio (DPR) is presently 35.18%.
FedEx Profile
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Free Report)
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.
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