Bank of Montreal Can Has $88.54 Million Position in FedEx Co. (NYSE:FDX)

Bank of Montreal Can raised its holdings in FedEx Co. (NYSE:FDX) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,913 shares of the shipping service provider’s stock after acquiring an additional 17,062 shares during the quarter. Bank of Montreal Can owned about 0.14% of FedEx worth $88,536,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of FedEx by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock worth $654,312,000 after buying an additional 121,240 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock worth $397,267,000 after acquiring an additional 13,093 shares in the last quarter. Sentry LLC increased its holdings in shares of FedEx by 0.5% during the 2nd quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock valued at $365,626,000 after acquiring an additional 6,657 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after acquiring an additional 647,926 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 0.7 %

FDX stock opened at $302.95 on Wednesday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. 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 business’s 50 day moving average is $276.70 and its 200-day moving average is $278.25. The firm has a market cap of $74.02 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.25 and a beta of 1.17.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a yield of 1.82%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent analyst reports. Bank of America decreased their target price on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Evercore ISI lowered their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. TD Cowen cut their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Stifel Nicolaus lowered their price target on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Finally, Bernstein Bank boosted their price objective on FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, FedEx has an average 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.