National Bank of Canada FI Boosts Stock Position in FedEx Co. (NYSE:FDX)

National Bank of Canada FI boosted its holdings in FedEx Co. (NYSE:FDX) by 43.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 182,757 shares of the shipping service provider’s stock after purchasing an additional 55,324 shares during the quarter. National Bank of Canada FI’s holdings in FedEx were worth $50,017,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FDX. International Assets Investment Management LLC increased its holdings in FedEx by 473.8% in the third 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 buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after buying an additional 161,022 shares during the last quarter. Empyrean Capital Partners LP purchased a new position in shares of FedEx during the second quarter worth about $46,475,000. Finally, Interval Partners LP grew its holdings in shares of FedEx by 408.3% during the second quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock worth $57,296,000 after purchasing an additional 153,497 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $280.68 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The company has a market cap of $68.58 billion, a P/E ratio of 17.32, a PEG ratio of 1.18 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 company has a 50-day moving average price of $279.81 and a 200 day moving average price of $279.97.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.55 EPS. Research analysts predict that FedEx Co. will post 19.59 earnings per share 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 given a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.97%. FedEx’s payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research reports. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Friday, September 20th. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Stifel Nicolaus dropped their price objective on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Evercore ISI dropped their price objective on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price objective on FedEx from $350.00 to $366.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $316.68.

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.