Canada Pension Plan Investment Board Takes $283.79 Million Position in FedEx Corporation $FDX

Canada Pension Plan Investment Board acquired a new position in FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 906,307 shares of the shipping service provider’s stock, valued at approximately $283,792,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 207 shares during the period. Empowered Funds LLC boosted its holdings in FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after acquiring an additional 4,548 shares during the period. Sivia Capital Partners LLC bought a new stake in FedEx during the second quarter valued at about $586,000. Quantbot Technologies LP acquired a new stake in shares of FedEx in the second quarter valued at about $186,000. Finally, Jump Financial LLC acquired a new stake in shares of FedEx in the second quarter valued at about $456,000. 84.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FDX. Weiss Ratings raised FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Raymond James Financial reaffirmed an “outperform” rating on shares of FedEx in a research report on Wednesday, August 19th. Seaport Research Partners began coverage on FedEx in a report on Wednesday, May 27th. They set a “buy” rating for the company. Evercore set a $165.00 price objective on FedEx in a research report on Friday, June 26th. Finally, 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 objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx 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 sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is owned by corporate insiders.

FedEx Trading Down 0.2%

Shares of FDX opened at $333.54 on Wednesday. The stock’s 50-day moving average price is $318.91 and its 200 day moving average price is $351.31. 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 firm has a market capitalization of $78.94 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.72 and a beta of 1.30. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last announced 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 company had revenue of $23.26 billion during the quarter. As a group, research analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Dividend Announcement

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

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.