CIBC Asset Management Inc Buys 2,430 Shares of FedEx Co. (NYSE:FDX)

CIBC Asset Management Inc raised its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,562 shares of the shipping service provider's stock after acquiring an additional 2,430 shares during the period. CIBC Asset Management Inc's holdings in FedEx were worth $9,185,000 as of its most recent SEC filing.

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

FedEx Stock Performance

Shares of NYSE:FDX traded up $2.17 during trading on Friday, reaching $294.46. 1,506,570 shares of the stock were exchanged, compared to its average volume of 1,346,451. The firm has a market cap of $71.94 billion, a PE ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The stock has a 50-day moving average price of $275.40 and a 200-day moving average price of $276.37.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research analyst reports. TD Cowen lowered their price target on FedEx from $334.00 to $328.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Stifel Nicolaus dropped their price target on shares of FedEx from $327.00 to $321.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Daiwa America lowered shares of FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. Stephens reiterated an "overweight" rating and issued a $350.00 target price on shares of FedEx in a report on Friday, September 20th. Finally, The Goldman Sachs Group reduced their target price on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $316.04.

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.