TD Waterhouse Canada Inc. Boosts Stock Holdings in FedEx Corporation $FDX

TD Waterhouse Canada Inc. raised its stake in FedEx Corporation (NYSE:FDX) by 33.4% during the second quarter, HoldingsChannel.com reports. The fund owned 31,275 shares of the shipping service provider’s stock after purchasing an additional 7,838 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in FedEx were worth $9,838,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. grew its position in shares of FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after purchasing an additional 26 shares in the last quarter. OneAscent Financial Services LLC lifted its position in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after buying an additional 29 shares in the last quarter. Whipplewood Advisors LLC lifted its position in shares of FedEx by 9.9% in the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after buying an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in FedEx by 11.9% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after buying an additional 30 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its holdings in FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 30 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $322.11 on Friday. The firm has a market capitalization of $76.23 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.71 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The business has a 50 day simple moving average of $319.36 and a 200-day simple moving average of $349.10. FedEx Corporation has a 1 year low of $177.65 and a 1 year high of $345.36.

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

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a dividend of $1.22 per share. 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 payout ratio is 26.36%.

Insider Buying and Selling at FedEx

In other news, Director Paul 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 value of $1,636,431.52. Following the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on FDX shares. Raymond James Financial set a $330.00 price objective on FedEx in a report on Friday, August 28th. Weiss Ratings lowered shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. The Goldman Sachs Group reduced their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research note on Wednesday, June 24th. Finally, Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.