Canada Post Corp Registered Pension Plan Acquires New Holdings in FedEx Co. (NYSE:FDX)

Canada Post Corp Registered Pension Plan bought a new position in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, HoldingsChannel.com reports. The firm bought 2,914 shares of the shipping service provider’s stock, valued at approximately $820,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider’s stock valued at $5,682,727,000 after purchasing an additional 56,236 shares during the period. Geode Capital Management LLC lifted its stake in shares of FedEx by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider’s stock valued at $1,350,686,000 after buying an additional 109,006 shares during the period. Franklin Resources Inc. grew its position in FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider’s stock worth $1,209,338,000 after buying an additional 323,115 shares in the last quarter. Invesco Ltd. increased its stake in FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider’s stock valued at $906,165,000 after acquiring an additional 127,044 shares during the period. Finally, Norges Bank acquired a new position in FedEx in the 4th quarter valued at approximately $807,352,000. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Bank of America decreased their price objective on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Truist Financial started coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target on the stock. Stephens reduced their price objective on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research note on Friday, March 7th. They issued a “buy” rating and a $337.00 target price on the stock. Finally, Jefferies Financial Group upgraded shares of FedEx from a “hold” rating to a “buy” rating and cut their price target for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $300.63.

FedEx Trading Up 1.2 %

Shares of NYSE FDX opened at $210.31 on Tuesday. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The firm has a market capitalization of $50.39 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The company’s 50 day simple moving average is $243.22 and its 200 day simple moving average is $265.34.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period last year, the company earned $3.86 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.62%. FedEx’s payout ratio is currently 34.63%.

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.