Canada Pension Plan Investment Board Buys Shares of 906,307 FedEx Corporation $FDX

Canada Pension Plan Investment Board bought a new stake in FedEx Corporation (NYSE:FDX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 906,307 shares of the shipping service provider’s stock, valued at approximately $283,792,000. Canada Pension Plan Investment Board owned approximately 0.38% of FedEx as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC grew its stake in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 207 shares in the last quarter. Empowered Funds LLC lifted its position in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after purchasing an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of FedEx during the second quarter worth approximately $586,000. Quantbot Technologies LP purchased a new position in FedEx during the second quarter valued at approximately $186,000. Finally, Jump Financial LLC purchased a new position in FedEx during the second quarter valued at approximately $456,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $333.54 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $78.94 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a 50 day moving average price of $318.91 and a two-hundred day moving average price of $351.31. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36.

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

FedEx Announces Dividend

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 issued a $1.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio is currently 26.36%.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction 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 transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen cut their target price on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. UBS Group lowered their price target on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Citigroup began coverage on shares of FedEx in a research note on Wednesday, July 15th. They issued an “outperform” rating on the stock. HSBC cut their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a report on Monday, June 1st. Finally, Stifel Nicolaus reduced their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus 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.