FedEx Corporation $FDX Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its position in shares of FedEx Corporation (NYSE:FDX) by 104.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,319 shares of the shipping service provider’s stock after buying an additional 8,868 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in FedEx were worth $6,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 44 Wealth Management LLC increased its position in shares of FedEx by 192.8% during the first quarter. 44 Wealth Management LLC now owns 5,381 shares of the shipping service provider’s stock valued at $1,917,000 after acquiring an additional 3,543 shares during the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of FedEx during the first quarter worth about $2,168,000. Waverly Advisors LLC boosted its stake in shares of FedEx by 4.5% in the first quarter. Waverly Advisors LLC now owns 11,737 shares of the shipping service provider’s stock valued at $4,180,000 after purchasing an additional 504 shares during the period. Entropy Technologies LP boosted its stake in shares of FedEx by 2,864.5% in the first quarter. Entropy Technologies LP now owns 49,567 shares of the shipping service provider’s stock valued at $17,655,000 after purchasing an additional 47,895 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of FedEx by 58.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 13,587 shares of the shipping service provider’s stock valued at $4,839,000 after purchasing an additional 5,006 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore set a $165.00 target price on shares of FedEx in a report on Friday, June 26th. Jefferies Financial Group started coverage on shares of FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target for the company. HSBC cut their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research report on Monday, June 1st. UBS Group reduced their price objective on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Raymond James Financial lowered their target price on FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Stock Down 0.1%

Shares of NYSE FDX opened at $314.77 on Monday. The business has a 50-day moving average of $335.98 and a two-hundred day moving average of $350.42. The company has a market capitalization of $74.47 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. 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) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS 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 for the quarter. On average, analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

About FedEx

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.