National Bank of Canada FI Lowers Holdings in FedEx Co. (NYSE:FDX)

Posted by on Apr 3rd, 2023

National Bank of Canada FI decreased its holdings in FedEx Co. (NYSE:FDX – Get Rating) by 26.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 142,620 shares of the shipping service provider’s stock after selling 51,373 shares during the quarter. National Bank of Canada FI owned 0.06% of FedEx worth $24,689,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FDX. CenterStar Asset Management LLC acquired a new position in FedEx in the 4th quarter worth about $29,000. Coston McIsaac & Partners acquired a new position in FedEx in the 2nd quarter worth about $30,000. My Personal CFO LLC acquired a new position in FedEx in the 4th quarter worth about $31,000. Cowa LLC acquired a new position in shares of FedEx during the third quarter valued at approximately $33,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of FedEx by 163.9% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 190 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 118 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Buying and Selling

In related news, Director Amy B. Lane purchased 280 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were purchased at an average price of $175.83 per share, with a total value of $49,232.40. Following the completion of the acquisition, the director now directly owns 1,529 shares in the company, valued at approximately $268,844.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on FDX shares. Jefferies Financial Group increased their target price on FedEx from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, December 22nd. Robert W. Baird increased their price target on FedEx from $230.00 to $250.00 in a report on Friday, March 17th. Stifel Nicolaus increased their price target on FedEx from $222.00 to $242.00 in a report on Friday, March 17th. Loop Capital increased their price target on FedEx from $179.00 to $241.00 and gave the company a “hold” rating in a report on Tuesday, March 21st. Finally, Stephens increased their price target on FedEx from $200.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, March 17th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $232.96.

FedEx Stock Up 1.8 %

FDX opened at $228.49 on Monday. The business’s 50-day simple moving average is $207.49 and its 200-day simple moving average is $182.14. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 1.32. FedEx Co. has a one year low of $141.92 and a one year high of $248.76. The stock has a market capitalization of $57.43 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.27 and a beta of 1.31.

FedEx (NYSE:FDX – Get Rating) last posted its earnings results on Thursday, March 16th. The shipping service provider reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. FedEx had a return on equity of 17.71% and a net margin of 3.23%. The business had revenue of $22.17 billion for the quarter, compared to analysts’ expectations of $22.74 billion. During the same quarter in the previous year, the firm earned $4.59 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 14.94 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, March 10th. FedEx’s dividend payout ratio is currently 39.72%.

FedEx Profile

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FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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