Cidel Asset Management Inc. Has $735,000 Stake in FedEx Co. (NYSE:FDX)

Cidel Asset Management Inc. raised its holdings in FedEx Co. (NYSE:FDX) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,611 shares of the shipping service provider’s stock after buying an additional 82 shares during the period. Cidel Asset Management Inc.’s holdings in FedEx were worth $735,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. IVC Wealth Advisors LLC increased its position in shares of FedEx by 2.0% in the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after acquiring an additional 38 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of FedEx by 3.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the period. Turtle Creek Wealth Advisors LLC grew its holdings in FedEx by 4.0% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after purchasing an additional 39 shares during the period. Buckley Wealth Management LLC raised its stake in FedEx by 1.0% in the third quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock valued at $1,088,000 after buying an additional 40 shares during the period. Finally, Evermay Wealth Management LLC lifted its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

Shares of NYSE:FDX opened at $256.01 on Friday. The firm has a market cap of $61.66 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The firm’s fifty day moving average is $274.59 and its 200-day moving average is $280.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $22.14 billion. During the same period last year, the company earned $3.99 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Sell-side analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.16%. FedEx’s payout ratio is 35.18%.

Insider Buying and Selling at FedEx

In related news, Director Amy B. Lane acquired 333 shares of the stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FDX shares. 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 report on Friday, December 20th. Stifel Nicolaus reduced their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Bank of America lifted their price objective on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays raised their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

About FedEx

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.