CIBC Asset Management Inc Grows Stock Holdings in FedEx Co. (NYSE:FDX)

CIBC Asset Management Inc boosted its position in FedEx Co. (NYSE:FDX) by 7.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 33,562 shares of the shipping service provider’s stock after acquiring 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 and other institutional investors have also recently bought and sold shares of FDX. Nicolet Advisory Services LLC purchased a new stake in FedEx in the 1st quarter worth approximately $204,000. Covestor Ltd grew its stake in shares of FedEx by 50.0% during the 1st quarter. Covestor Ltd now owns 789 shares of the shipping service provider’s stock valued at $229,000 after buying an additional 263 shares during the period. Rockport Wealth LLC acquired a new position in shares of FedEx during the 1st quarter valued at $476,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of FedEx by 0.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 33,838 shares of the shipping service provider’s stock valued at $9,804,000 after acquiring an additional 241 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of FedEx during the 1st quarter valued at $220,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FDX has been the topic of several recent research reports. Loop Capital reduced their target price on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. HSBC lowered shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a report on Friday, September 20th. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Citigroup boosted their price objective on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Bernstein Bank boosted their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Price Performance

NYSE FDX opened at $294.46 on Friday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. 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 cap of $71.94 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17. The company 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 posted its 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). The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $4.55 EPS. Analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

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

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.