CIBC Asset Management Inc Buys 1,459 Shares of FedEx Co. (NYSE:FDX)

CIBC Asset Management Inc lifted its holdings in FedEx Co. (NYSE:FDX) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,021 shares of the shipping service provider’s stock after buying an additional 1,459 shares during the period. CIBC Asset Management Inc’s holdings in FedEx were worth $9,852,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FDX. Fortitude Family Office LLC increased its holdings in shares of FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares during the last quarter. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the 4th quarter worth about $28,000. City Holding Co. bought a new stake in shares of FedEx in the 4th quarter worth about $28,000. Finally, Kentucky Trust Co bought a new stake in shares of FedEx in the 4th quarter worth about $28,000. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FDX. Barclays boosted their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Stephens dropped their price target on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company lifted their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Loop Capital cut shares of FedEx from a “buy” rating to a “hold” rating and dropped their price target for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.87.

Insider Buying and Selling

In other news, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was purchased 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 in the company, valued at $91,927.98. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by company insiders.

FedEx Trading Down 0.2 %

NYSE:FDX opened at $267.35 on Wednesday. FedEx Co. has a one year low of $235.32 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market cap of $64.39 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.07 and a beta of 1.18. The firm has a 50-day simple moving average of $272.17 and a 200-day simple moving average of $278.71.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.99 EPS. Equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.06%. FedEx’s dividend payout ratio (DPR) is presently 35.18%.

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.