Caisse de depot et placement du Quebec Invests $54.92 Million in FedEx Corporation $FDX

Caisse de depot et placement du Quebec bought a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 175,380 shares of the shipping service provider’s stock, valued at approximately $54,917,000. Caisse de depot et placement du Quebec owned approximately 0.07% of FedEx as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. bought a new position in FedEx in the 2nd quarter valued at $6,508,103,000. Primecap Management Co. CA bought a new stake in shares of FedEx during the 2nd quarter worth $2,554,138,000. Norges Bank purchased a new position in shares of FedEx in the 4th quarter worth about $859,085,000. Boston Partners purchased a new position in shares of FedEx in the 3rd quarter worth about $468,195,000. Finally, AQR Capital Management LLC grew its position in FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after buying an additional 1,718,278 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is currently owned by insiders.

FedEx Stock Down 1.4%

Shares of NYSE FDX opened at $331.45 on Friday. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36. The business has a 50-day simple moving average of $319.23 and a two-hundred day simple moving average of $350.85. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company has a market cap of $78.44 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.73 and a beta of 1.30.

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

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be paid a $1.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio is currently 26.36%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FDX. Stephens raised shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Bank of America boosted their target price on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. BMO Capital Markets reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. Raymond James Financial reissued an “outperform” rating on shares of FedEx in a report on Wednesday, August 19th. Finally, Citizens Jmp started coverage on shares of FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective on the stock. One 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. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target 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.