FedEx Co. (NYSE:FDX) Holdings Raised by Canoe Financial LP

Canoe Financial LP increased its holdings in FedEx Co. (NYSE:FDX - Free Report) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,647 shares of the shipping service provider's stock after acquiring an additional 4,423 shares during the quarter. FedEx comprises approximately 1.6% of Canoe Financial LP's portfolio, making the stock its 25th biggest position. Canoe Financial LP owned 0.10% of FedEx worth $67,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FDX. Capital International Investors boosted its holdings in shares of FedEx by 32.5% in the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider's stock worth $2,558,718,000 after buying an additional 2,163,622 shares during the last quarter. Vanguard Group Inc. lifted its position in FedEx by 5.6% during the first quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider's stock valued at $5,756,602,000 after purchasing an additional 1,056,061 shares during the last quarter. Mawer Investment Management Ltd. raised its position in FedEx by 43.5% during the first quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider's stock valued at $654,401,000 after purchasing an additional 684,679 shares during the period. International Assets Investment Management LLC lifted its position in FedEx by 473.8% in the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock worth $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider's stock worth $674,336,000 after buying an additional 578,350 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. Susquehanna decreased their price target on shares of FedEx from $345.00 to $330.00 and set a "positive" rating for the company in a research report on Friday, September 20th. Citigroup assumed coverage on FedEx in a research note on Wednesday, October 9th. They set a "buy" rating and a $301.00 target price for the company. Morgan Stanley lowered FedEx from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Hsbc Global Res cut FedEx from a "strong-buy" rating to a "hold" rating in a report on Friday, September 20th. Finally, The Goldman Sachs Group decreased their price target on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $314.17.

FedEx Stock Performance

FDX traded up $3.33 on Monday, hitting $275.45. 1,040,753 shares of the company traded hands, compared to its average volume of 1,831,309. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12-month low of $229.07 and a 12-month high of $313.84. The stock has a market capitalization of $67.30 billion, a PE ratio of 16.99, a PEG ratio of 1.08 and a beta of 1.17. The company has a 50 day moving average of $278.57 and a 200-day moving average of $274.86.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.00%. The ex-dividend date was Monday, September 9th. FedEx's dividend payout ratio (DPR) is presently 34.05%.

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.