Canada Pension Plan Investment Board Sells 97,284 Shares of FedEx Corporation (FDX)

Canada Pension Plan Investment Board decreased its holdings in shares of FedEx Corporation (NYSE:FDX) by 2.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,495,857 shares of the shipping service provider’s stock after selling 97,284 shares during the period. FedEx Corporation makes up approximately 1.7% of Canada Pension Plan Investment Board’s investment portfolio, making the stock its 9th largest holding. Canada Pension Plan Investment Board owned 1.30% of FedEx Corporation worth $759,755,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of FedEx Corporation by 5.4% during the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after acquiring an additional 918,896 shares during the last quarter. BlackRock Inc. grew its stake in shares of FedEx Corporation by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after acquiring an additional 14,086,601 shares during the last quarter. Jennison Associates LLC grew its stake in shares of FedEx Corporation by 5.4% during the first quarter. Jennison Associates LLC now owns 3,429,971 shares of the shipping service provider’s stock worth $669,359,000 after acquiring an additional 175,777 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of FedEx Corporation by 8.4% during the first quarter. Geode Capital Management LLC now owns 2,236,044 shares of the shipping service provider’s stock worth $435,698,000 after acquiring an additional 173,544 shares during the last quarter. Finally, Harbour Capital Advisors LLC grew its stake in shares of FedEx Corporation by 21,011.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after acquiring an additional 1,418,066 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.

In related news, Director Kim Jabal sold 5,918 shares of FedEx Corporation stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total value of $1,278,583.90. Following the sale, the director now directly owns 3,610 shares in the company, valued at $779,940.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Rajesh Subramaniam sold 7,155 shares of FedEx Corporation stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $215.47, for a total value of $1,541,687.85. Following the completion of the sale, the executive vice president now owns 21,566 shares in the company, valued at $4,646,826.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,890 shares of company stock worth $3,411,468. Company insiders own 8.45% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus restated a “hold” rating and set a $221.00 price target (up previously from $216.00) on shares of FedEx Corporation in a research note on Wednesday. Bank of America Corporation restated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research note on Wednesday. Cowen and Company restated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research note on Tuesday, July 11th. Loop Capital restated a “buy” rating and set a $234.00 price target on shares of FedEx Corporation in a research note on Tuesday, July 4th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $220.00 price target on shares of FedEx Corporation in a research note on Monday, July 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the stock. FedEx Corporation presently has an average rating of “Buy” and an average target price of $224.43.

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FedEx Corporation (NYSE:FDX) opened at 220.50 on Thursday. The stock’s 50 day moving average price is $210.17 and its 200 day moving average price is $202.36. The firm has a market capitalization of $59.15 billion, a P/E ratio of 19.92 and a beta of 1.28. FedEx Corporation has a 52 week low of $168.00 and a 52 week high of $222.71.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 21.15%. The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter last year, the firm earned $2.90 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities analysts expect that FedEx Corporation will post $13.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.91%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.

FedEx Corporation Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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