6,100 Shares in FedEx Co. (NYSE:FDX) Bought by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. purchased a new stake in shares of FedEx Co. (NYSE:FDX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,100 shares of the shipping service provider's stock, valued at approximately $1,669,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Seven Eight Capital LP acquired a new position in FedEx in the first quarter valued at approximately $220,000. Bessemer Group Inc. grew its stake in shares of FedEx by 81.4% in the 1st quarter. Bessemer Group Inc. now owns 17,317 shares of the shipping service provider's stock valued at $5,017,000 after purchasing an additional 7,773 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of FedEx by 41.3% in the first quarter. Lake Street Advisors Group LLC now owns 2,282 shares of the shipping service provider's stock valued at $664,000 after buying an additional 667 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of FedEx in the first quarter worth $229,000. Finally, Shell Asset Management Co. increased its stake in FedEx by 26.6% in the first quarter. Shell Asset Management Co. now owns 12,014 shares of the shipping service provider's stock valued at $3,481,000 after purchasing an additional 2,527 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FDX. Daiwa America cut FedEx from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, September 11th. Barclays upped their target price 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. TD Cowen lowered their price target on shares of FedEx from $334.00 to $328.00 and set a "buy" rating on the stock in a report on Friday, September 20th. Loop Capital dropped their target price on shares of FedEx from $317.00 to $288.00 and set a "hold" rating on the stock in a report on Monday, September 23rd. Finally, Bank of America dropped their price target on shares of FedEx from $347.00 to $345.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $316.04.

FedEx Trading Down 2.5 %

FedEx stock traded down $7.22 during midday trading on Wednesday, reaching $285.84. The stock had a trading volume of 608,413 shares, compared to its average volume of 1,797,578. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $275.82 and a 200 day moving average of $276.94. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The firm has a market cap of $69.84 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17.

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 the consensus estimate of $4.82 by ($1.22). The business 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 business's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $4.55 EPS. On average, analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.93%. FedEx's dividend payout ratio is currently 34.05%.

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.