Investment Management Corp of Ontario Has $2.89 Million Position in FedEx Co. (NYSE:FDX)

Investment Management Corp of Ontario increased its position in shares of FedEx Co. (NYSE:FDX - Free Report) by 16.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,287 shares of the shipping service provider's stock after purchasing an additional 1,437 shares during the quarter. Investment Management Corp of Ontario's holdings in FedEx were worth $2,894,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FDX. bLong Financial LLC bought a new position in shares of FedEx in the 4th quarter valued at about $391,000. Lodestone Wealth Management LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $461,000. Wedmont Private Capital raised its position in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider's stock valued at $631,000 after acquiring an additional 91 shares during the period. GFS Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $26,855,000. Finally, Persium Advisors LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $530,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen decreased their target price on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company decreased their price objective on FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Stephens dropped their target price on shares of FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Truist Financial reduced their price target on shares of FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their price objective on shares of FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and an average price target of $297.63.

Insider Activity

In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. The trade was a 20.86% 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. 8.87% of the stock is currently owned by company insiders.

FedEx Stock Performance

FDX stock traded down $0.20 during midday trading on Thursday, reaching $231.60. 2,441,668 shares of the company were exchanged, compared to its average volume of 1,802,372. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business has a 50-day moving average price of $223.52 and a two-hundred day moving average price of $257.28. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The firm has a market capitalization of $55.49 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the firm earned $3.86 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.38%. FedEx's payout ratio is presently 34.63%.

FedEx Profile

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.