Healthcare of Ontario Pension Plan Trust Fund Buys 5,006 Shares of FedEx Corporation $FDX

Healthcare of Ontario Pension Plan Trust Fund grew its stake in FedEx Corporation (NYSE:FDX) by 58.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,587 shares of the shipping service provider’s stock after acquiring an additional 5,006 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in FedEx were worth $4,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FDX. Sivia Capital Partners LLC bought a new stake in shares of FedEx in the second quarter worth about $586,000. CWM LLC grew its position in shares of FedEx by 32.2% in the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock valued at $31,206,000 after purchasing an additional 26,322 shares during the period. Canada Post Corp Registered Pension Plan increased its stake in FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after purchasing an additional 3,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in FedEx by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after buying an additional 6,864 shares during the period. Finally, North Dakota State Investment Board bought a new position in FedEx in the fourth quarter valued at approximately $2,122,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 1.2%

Shares of FDX stock opened at $308.96 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The firm’s 50-day moving average is $332.02 and its 200-day moving average is $350.48. The stock has a market cap of $73.10 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.61 and a beta of 1.29. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $345.36.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Sell-side analysts predict that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s payout ratio is currently 26.36%.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FDX shares. Argus raised their price objective on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 6th. TD Cowen dropped their price target on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Barclays reduced their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Seaport Research Partners started coverage on FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. Finally, HSBC reduced their price target on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.