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

Key Points

• TD Waterhouse Canada increased its FedEx position by 33.4% in the second quarter, bringing its holdings to 31,275 shares valued at approximately $9.84 million. Institutional investors collectively own 84.47% of FedEx.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue; analysts expect $17.60 in fiscal-year earnings per share. The company also declared a $1.22 quarterly dividend, equal to a 1.5% yield.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $350.54, although some firms recently downgraded the stock to “Hold.”

TD Waterhouse Canada Inc. raised its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 33.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hollencrest Capital Management bought a new position in shares of FedEx in the 1st quarter worth approximately $25,000. Bayban purchased a new stake in FedEx during the first quarter valued at approximately $26,000. Solstein Capital LLC purchased a new stake in FedEx during the second quarter valued at approximately $27,000. EFG International AG bought a new position in FedEx in the fourth quarter worth approximately $27,000. Finally, Wealth Watch Advisors INC bought a new position in FedEx in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

Shares of NYSE FDX opened at $322.11 on Friday. The stock has a market cap of $76.23 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.71 and a beta of 1.32. FedEx Corporation has a 1 year low of $177.65 and a 1 year high of $345.36. The firm has a fifty day moving average price of $319.36 and a 200-day moving average price of $349.10. 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 - Get Free Report) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The company had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Equities analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Insider Activity

In related news, Director Paul Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction 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 trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

FDX has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Bank of America raised their target price on FedEx from $376.00 to $378.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Jefferies Financial Group assumed coverage on FedEx in a research report on Tuesday, June 23rd. They set a "buy" rating and a $200.00 target price on the stock. Citigroup began coverage on FedEx in a report on Wednesday, July 15th. They set an "outperform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut FedEx from a "buy" rating to a "hold" rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $350.54.

FedEx Company 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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