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

Northwest & Ethical Investments L.P. lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.

Several other institutional investors have also modified their holdings of the business. Ameriprise Financial Inc. lifted its stake 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FedEx by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after acquiring an additional 121,240 shares during the period. Charles Schwab Investment Management Inc. lifted its position in FedEx by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after acquiring an additional 13,093 shares in the last quarter. Sentry LLC boosted its stake in FedEx by 0.5% in the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock worth $365,626,000 after purchasing an additional 6,657 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after purchasing an additional 647,926 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

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

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the company earned $4.55 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Equities analysts expect that FedEx Co. will post 19.59 earnings per share for the current year.

FedEx Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FDX shares. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a report on Friday, September 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. 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 note on Friday, September 20th. Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, Stephens reaffirmed an “overweight” rating and issued a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.