Northwest & Ethical Investments L.P. Acquires 2,214 Shares of FedEx Co. (NYSE:FDX)

Northwest & Ethical Investments L.P. lifted its stake in FedEx Co. (NYSE:FDX) by 11.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,778 shares of the shipping service provider’s stock after purchasing an additional 2,214 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in FedEx were worth $5,960,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its holdings in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in FedEx during the third quarter worth about $31,000. Central Valley Advisors LLC bought a new position in FedEx in the 2nd quarter valued at about $39,000. Abound Wealth Management raised its position in shares of FedEx by 175.9% in the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of FedEx during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

FDX opened at $303.39 on Friday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a market cap of $74.13 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.27 and a beta of 1.17. The company’s fifty day moving average price is $276.86 and its two-hundred day moving average price is $278.60. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for 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 last year, the firm posted $4.55 EPS. On average, analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. HSBC lowered FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Friday, September 20th. The Goldman Sachs Group dropped their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Morgan Stanley downgraded shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. Finally, UBS Group decreased their price target on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $316.04.

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.