BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $10.60 Million Holdings in FedEx Co. (NYSE:FDX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in FedEx Co. (NYSE:FDX) by 13.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 38,727 shares of the shipping service provider’s stock after selling 6,088 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in FedEx were worth $10,599,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC grew its stake in FedEx by 72.7% in the third 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 during the period. Highline Wealth Partners LLC purchased a new position in shares of FedEx during the third quarter valued at approximately $31,000. Central Valley Advisors LLC purchased a new position in shares of FedEx during the second quarter valued at approximately $39,000. Abound Wealth Management boosted its position in shares of FedEx by 175.9% during the second 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 during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of FedEx during the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $302.67 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The firm has a market cap of $73.95 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.26 and a beta of 1.17. The business’s fifty day moving average is $277.83 and its 200 day moving average is $279.12.

FedEx (NYSE:FDX) last released its quarterly earnings data 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same quarter in the previous year, the firm posted $4.55 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Hsbc Global Res cut FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Loop Capital cut their target price on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Stephens reissued an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Citigroup boosted their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group cut their price objective on FedEx from $333.00 to $332.00 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

About FedEx

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.