FedEx Co. (NYSE:FDX) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp raised its position in shares of FedEx Co. (NYSE:FDX) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,788 shares of the shipping service provider’s stock after acquiring an additional 4,792 shares during the quarter. Cibc World Markets Corp’s holdings in FedEx were worth $10,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in FedEx in the 4th quarter valued at $234,028,000. ACR Alpine Capital Research LLC grew its holdings in shares of FedEx by 62.9% during the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider’s stock worth $239,909,000 after buying an additional 329,170 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of FedEx by 22,317.0% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider’s stock worth $90,751,000 after buying an additional 321,141 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after buying an additional 314,380 shares in the last quarter. Finally, KBC Group NV grew its stake in FedEx by 197.4% during the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock valued at $96,043,000 after acquiring an additional 226,608 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.1 %

FedEx stock opened at $245.58 on Wednesday. The firm has a market capitalization of $59.15 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.11 and a beta of 1.23. The stock’s fifty day simple moving average is $261.87 and its 200-day simple moving average is $273.48. FedEx Co. has a twelve month low of $239.50 and a twelve month high of $313.84. 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 posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the company earned $3.99 EPS. FedEx’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Insider Activity

In other FedEx news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value 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 $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FDX. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lowered their price objective on FedEx from $372.00 to $323.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. UBS Group raised their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Stephens lowered their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Finally, StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $317.48.

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.