Cibc World Markets Corp Increases Stock Position in FedEx Co. (NYSE:FDX)

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. bLong Financial LLC acquired a new stake in shares of FedEx during the fourth quarter worth about $391,000. Virtu Financial LLC acquired a new stake in FedEx during the 3rd quarter worth approximately $3,405,000. Lodestone Wealth Management LLC acquired a new position in shares of FedEx in the fourth quarter valued at approximately $461,000. Wedmont Private Capital raised its stake in shares of FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after purchasing an additional 91 shares during the last quarter. Finally, GFS Advisors LLC acquired a new stake in shares of FedEx during the fourth quarter worth $26,855,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. BNP Paribas raised shares of FedEx from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, January 16th. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Loop Capital lowered FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the company from $365.00 to $283.00 in a report on Monday, February 3rd. Stephens cut their target price on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, Raymond James downgraded FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $317.48.

FedEx Price Performance

Shares of NYSE:FDX opened at $245.58 on Wednesday. The business has a fifty day simple moving average of $261.87 and a 200-day simple moving average of $273.48. FedEx Co. has a 52 week low of $239.50 and a 52 week high of $313.84. The company has a market cap 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 company has a quick ratio of 1.19, a current ratio of 1.23 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 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.99 EPS. Equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

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

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.