OMERS ADMINISTRATION Corp Grows Position in FedEx Corporation $FDX

OMERS ADMINISTRATION Corp boosted its position in shares of FedEx Corporation (NYSE:FDX) by 104.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,319 shares of the shipping service provider’s stock after acquiring an additional 8,868 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in FedEx were worth $6,169,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Hollencrest Capital Management acquired a new position in shares of FedEx in the 1st quarter valued at $25,000. Bayban acquired a new stake in FedEx during the 1st quarter worth $26,000. EFG International AG acquired a new stake in FedEx during the 4th quarter worth $27,000. Wealth Watch Advisors INC purchased a new position in FedEx during the 3rd quarter worth $28,000. Finally, Tucker Asset Management LLC purchased a new position in FedEx during the 4th quarter worth $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FDX shares. BNP Paribas Exane reduced their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Weiss Ratings lowered FedEx from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. HSBC dropped their price target on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research report on Monday, June 1st. Jefferies Financial Group began coverage on FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective for the company. Finally, Seaport Research Partners assumed coverage on FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Trading Down 0.1%

NYSE:FDX opened at $314.77 on Monday. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. 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 stock has a fifty day moving average price of $335.98 and a two-hundred day moving average price of $350.42. The stock has a market capitalization of $74.47 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.62 and a beta of 1.29.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion for the quarter. As a group, sell-side analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio is presently 26.36%.

FedEx Company 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.