OMERS ADMINISTRATION Corp Invests $6.03 Million in FedEx Corporation $FDX

OMERS ADMINISTRATION Corp acquired a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 19,250 shares of the shipping service provider's stock, valued at approximately $6,028,000.

A number of other large investors also recently bought and sold shares of FDX. BlackRock Inc. acquired a new position in FedEx during the 2nd quarter worth about $6,508,103,000. State Street Corp lifted its holdings in FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider's stock worth $2,763,824,000 after buying an additional 382,848 shares in the last quarter. Franklin Resources Inc. lifted its holdings in FedEx by 6.6% during the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider's stock worth $1,482,785,000 after buying an additional 318,293 shares in the last quarter. Geode Capital Management LLC boosted its position in FedEx by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider's stock valued at $1,443,666,000 after buying an additional 45,818 shares during the period. Finally, Invesco Ltd. boosted its position in FedEx by 3.1% in the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider's stock valued at $853,372,000 after buying an additional 108,426 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the company's 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 completion of the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by company insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $334.05 on Tuesday. The company's fifty day moving average price is $318.95 and its 200 day moving average price 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 Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The firm has a market capitalization 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.

FedEx (NYSE:FDX - Get Free Report) last posted 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 business had revenue of $23.26 billion during the quarter. As a group, sell-side analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx's payout ratio is presently 26.36%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FDX. BNP Paribas Exane cut their price objective on FedEx from $335.00 to $269.76 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. Wells Fargo & Company decreased their target price on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Wednesday, June 17th. Wall Street Zen raised FedEx to a "hold" rating in a research note on Saturday, August 8th. Evercore set a $165.00 price target on FedEx in a report on Friday, June 26th. Finally, Citigroup started coverage on FedEx in a research report on Wednesday, July 15th. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently 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.

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