Canoe Financial LP Sells 100,341 Shares of FedEx Co. (NYSE:FDX)

Canoe Financial LP lowered its stake in shares of FedEx Co. (NYSE:FDX) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities & 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 0.06% of FedEx worth $42,286,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FDX. International Assets Investment Management LLC lifted its stake 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 valued at $2,147,540,000 after acquiring an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares during the period. Franklin Resources Inc. lifted its stake in FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. World Investment Advisors LLC grew its holdings in FedEx by 2,163.7% during the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after purchasing an additional 183,940 shares during the period. Finally, Empirical Asset Management LLC acquired a new position in FedEx during the fourth quarter worth approximately $49,445,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent analyst reports. Barclays raised their price objective on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. TD Cowen lifted their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Robert W. Baird dropped their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Stifel Nicolaus raised their target price on shares of FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Raymond James upped their price target on shares of FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $325.61.

FedEx Trading Down 0.8 %

FDX opened at $275.11 on Friday. The stock has a market capitalization of $66.26 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a 50-day simple moving average of $283.70 and a 200 day simple moving average of $284.20.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during 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 firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.99 EPS. Analysts predict that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Announces Dividend

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

Insider Transactions at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

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.