BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $12.51 Million Stock Position in FedEx Co. (NYSE:FDX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of FedEx Co. (NYSE:FDX) by 14.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,448 shares of the shipping service provider’s stock after purchasing an additional 5,721 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in FedEx were worth $12,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Transce3nd LLC bought a new position in FedEx during the fourth quarter worth $26,000. Kentucky Trust Co acquired a new stake in FedEx during the 4th quarter worth about $28,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in FedEx during the 4th quarter worth about $28,000. Activest Wealth Management acquired a new stake in FedEx during the 4th quarter worth about $29,000. Finally, R Squared Ltd acquired a new stake in FedEx during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Up 0.8%

Shares of FedEx stock opened at $218.64 on Friday. The stock has a fifty day simple moving average of $221.17 and a 200 day simple moving average of $255.20. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The company has a market capitalization of $52.39 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. 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) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the company posted $3.86 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on FDX. JPMorgan Chase & Co. decreased their price target on FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 21st. Raymond James decreased their price target on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Citigroup decreased their price target on FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Bank of America decreased their price target on FedEx from $272.00 to $270.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $297.00.

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.