BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Stake in FedEx Co. (NYSE:FDX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,448 shares of the shipping service provider's stock after acquiring an additional 5,721 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in FedEx were worth $12,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transce3nd LLC acquired a new position in shares of FedEx in the fourth quarter worth approximately $26,000. Kentucky Trust Co acquired a new position in FedEx in the fourth quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx during the fourth quarter valued at $28,000. Activest Wealth Management bought a new stake in shares of FedEx during the 4th quarter valued at about $29,000. Finally, R Squared Ltd bought a new stake in FedEx in the fourth quarter worth approximately $31,000. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on FDX. TD Cowen lowered their price objective on shares of FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Stifel Nicolaus cut their price target on FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Bank of America lowered their price objective on FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. BMO Capital Markets cut their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research report on Friday, March 7th. They issued a "buy" rating and a $337.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $296.17.

FedEx Trading Down 0.9%

Shares of NYSE FDX traded down $1.91 during midday trading on Wednesday, reaching $217.85. 313,188 shares of the stock were exchanged, compared to its average volume of 1,816,632. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The stock has a market capitalization of $52.20 billion, a P/E ratio of 13.89, a PEG ratio of 1.11 and a beta of 1.36. The company has a 50 day simple moving average of $219.46 and a 200 day simple moving average of $253.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the business earned $3.86 earnings per share. FedEx's revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.