FedEx Co. (NYSE:FDX) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 7.8% in the 3rd quarter, Holdings Channel reports. The firm owned 33,562 shares of the shipping service provider’s stock after buying an additional 2,430 shares during the period. CIBC Asset Management Inc’s holdings in FedEx were worth $9,185,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FDX. Capital International Investors lifted its position in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of FedEx by 473.8% in the 3rd 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 in the last quarter. Ameriprise Financial Inc. lifted its position 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 acquiring an additional 578,350 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after acquiring an additional 161,022 shares in the last quarter. Finally, Empyrean Capital Partners LP purchased a new stake in shares of FedEx in the 2nd quarter valued at approximately $46,475,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.7 %

FDX opened at $294.46 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $71.94 billion, a PE ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The firm has a 50-day moving average price of $275.40 and a two-hundred day moving average price of $276.37.

FedEx (NYSE:FDX) last issued its quarterly 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). FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same quarter in the prior year, the firm earned $4.55 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Loop Capital dropped their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Evercore ISI lowered their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Susquehanna lowered their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Finally, Citigroup increased their price target on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two investment 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. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average price target of $316.04.

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.