Bank of Montreal Can Acquires 17,062 Shares of FedEx Co. (NYSE:FDX)

Bank of Montreal Can increased its stake in shares of FedEx Co. (NYSE:FDX) by 5.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 330,913 shares of the shipping service provider’s stock after buying an additional 17,062 shares during the period. Bank of Montreal Can’s holdings in FedEx were worth $88,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC boosted its position in FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the third quarter valued at about $31,000. Central Valley Advisors LLC acquired a new stake in FedEx in the second quarter worth about $39,000. Abound Wealth Management raised its holdings in FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the last quarter. Finally, Sachetta LLC lifted its position in FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 0.7 %

NYSE FDX opened at $302.95 on Wednesday. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock’s 50 day moving average price is $276.70 and its two-hundred day moving average price is $278.25. The stock has a market capitalization of $74.02 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.25 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 EPS. As a group, analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is 34.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FDX. BMO Capital Markets lowered their price target on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Friday, September 20th. Loop Capital reduced their price target on FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. reduced their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.04.

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.