FedEx Co. (NYSE:FDX) Stock Position Raised by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its stake in shares of FedEx Co. (NYSE:FDX) by 45.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,304 shares of the shipping service provider’s stock after purchasing an additional 6,690 shares during the period. Mizuho Securities USA LLC’s holdings in FedEx were worth $5,993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after buying an additional 67,502 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after acquiring an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of FedEx by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after acquiring an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in FedEx by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock worth $422,202,000 after purchasing an additional 49,160 shares in the last quarter. Finally, Sentry LLC raised its stake in FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after purchasing an additional 5,404 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price target on FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a report on Friday. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $337.00 to $316.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company lowered their price objective on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, BMO Capital Markets cut their target price on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.67.

Insider Activity

In related news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is owned by company insiders.

FedEx Trading Down 6.5 %

FedEx stock opened at $230.25 on Friday. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The business’s 50-day simple moving average is $259.95 and its 200-day simple moving average is $272.49.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.86 earnings per share. Equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.40%. FedEx’s payout ratio is 35.18%.

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.