Mizuho Securities USA LLC Has $4 Million Position in FedEx Co. (NYSE:FDX)

Mizuho Securities USA LLC lessened its position in FedEx Co. (NYSE:FDX) by 16.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,614 shares of the shipping service provider’s stock after selling 2,839 shares during the period. Mizuho Securities USA LLC’s holdings in FedEx were worth $4,000,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in FDX. International Assets Investment Management LLC increased 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 buying an additional 647,926 shares during the period. Ameriprise Financial Inc. grew its position 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 period. Ceredex Value Advisors LLC grew its position in shares of FedEx by 77.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock valued at $101,022,000 after purchasing an additional 161,022 shares during the period. Empyrean Capital Partners LP bought a new stake in FedEx during the 2nd quarter worth approximately $46,475,000. Finally, Interval Partners LP raised its holdings in FedEx by 408.3% during the 2nd quarter. Interval Partners LP now owns 191,088 shares of the shipping service provider’s stock worth $57,296,000 after buying an additional 153,497 shares during the period. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FDX shares. Loop Capital decreased their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. The Goldman Sachs Group lowered their price objective on shares of FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Hsbc Global Res downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, HSBC cut shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Trading Up 2.5 %

NYSE:FDX opened at $295.34 on Friday. FedEx Co. has a 12 month low of $234.45 and a 12 month 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 stock has a market capitalization of $72.16 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.22 and a beta of 1.17. The firm has a fifty day simple moving average of $276.07 and a two-hundred day simple moving average of $277.14.

FedEx (NYSE:FDX) last issued its earnings results 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 firm 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 quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.55 earnings per share. Analysts expect that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The firm 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 dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Monday, December 9th. FedEx’s dividend payout ratio is currently 34.05%.

About FedEx

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.