OMERS ADMINISTRATION Corp Makes New $6.03 Million Investment in FedEx Corporation $FDX

OMERS ADMINISTRATION Corp bought a new stake in FedEx Corporation (NYSE:FDX) during the 2nd quarter, Holdings Channel reports. The firm bought 19,250 shares of the shipping service provider’s stock, valued at approximately $6,028,000.

Other institutional investors have also modified their holdings of the company. Sivia Capital Partners LLC purchased a new position in FedEx during the second quarter worth about $586,000. Canada Post Corp Registered Pension Plan boosted its holdings in FedEx by 85.9% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock valued at $1,962,000 after purchasing an additional 3,138 shares in the last quarter. North Dakota State Investment Board purchased a new stake in FedEx in the 4th quarter valued at approximately $2,122,000. First Nebraska Trust Co acquired a new position in FedEx during the 1st quarter worth approximately $10,675,000. Finally, International Assets Investment Management LLC increased its position in FedEx by 9,911.2% during the 4th quarter. International Assets Investment Management LLC now owns 186,708 shares of the shipping service provider’s stock worth $53,932,000 after purchasing an additional 184,843 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of several recent analyst reports. Evercore set a $165.00 price target on FedEx in a report on Friday, June 26th. Raymond James Financial reiterated an “outperform” rating on shares of FedEx in a research report on Wednesday, August 19th. Seaport Research Partners started coverage on FedEx in a report on Wednesday, May 27th. They issued a “buy” rating for the company. Truist Financial decreased their target price on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.

FedEx Stock Performance

FDX opened at $334.05 on Tuesday. FedEx Corporation has a 1-year low of $177.05 and a 1-year high of $345.36. The stock has a market cap of $79.06 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.67 and a beta of 1.30. The stock’s 50 day simple moving average is $318.95 and its 200 day simple moving average is $351.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm 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%. As a group, equities analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be given a $1.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s payout ratio is currently 26.36%.

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.