Intact Investment Management Inc. Purchases Shares of 270 FedEx Co. (NYSE:FDX)

Intact Investment Management Inc. acquired a new stake in FedEx Co. (NYSE:FDX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 270 shares of the shipping service provider’s stock, valued at approximately $74,000.

Other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in FedEx by 62.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 44,760 shares of the shipping service provider’s stock worth $12,250,000 after buying an additional 17,129 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx in the third quarter worth $47,000. Princeton Global Asset Management LLC raised its holdings in shares of FedEx by 59.2% during the third quarter. Princeton Global Asset Management LLC now owns 796 shares of the shipping service provider’s stock worth $218,000 after purchasing an additional 296 shares during the last quarter. Fullcircle Wealth LLC lifted its position in FedEx by 12.9% during the third quarter. Fullcircle Wealth LLC now owns 1,014 shares of the shipping service provider’s stock valued at $279,000 after purchasing an additional 116 shares during the period. Finally, VELA Investment Management LLC boosted its holdings in FedEx by 1,103.8% in the third quarter. VELA Investment Management LLC now owns 5,453 shares of the shipping service provider’s stock valued at $1,492,000 after purchasing an additional 5,000 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Performance

NYSE:FDX opened at $275.45 on Wednesday. FedEx Co. has a twelve month low of $234.45 and a twelve month high of $313.84. The company has a market cap of $67.30 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.10 and a beta of 1.17. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $276.19 and its 200-day moving average price is $275.22.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the company earned $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group decreased their price objective on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Hsbc Global Res lowered FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $215.00 to $200.00 in a report on Friday, September 20th. TD Cowen lowered their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Finally, Bernstein Bank lifted their price objective on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.17.

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.