Mizuho Markets Americas LLC Has $159.24 Million Holdings in FedEx Corporation $FDX

Mizuho Markets Americas LLC grew its holdings in shares of FedEx Corporation (NYSE:FDX) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 447,067 shares of the shipping service provider’s stock after purchasing an additional 2,805 shares during the quarter. FedEx makes up approximately 4.3% of Mizuho Markets Americas LLC’s holdings, making the stock its 3rd biggest position. Mizuho Markets Americas LLC’s holdings in FedEx were worth $159,236,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in FedEx during the first quarter valued at approximately $25,000. Bayban purchased a new position in shares of FedEx during the 1st quarter worth $26,000. Cedar Mountain Advisors LLC grew its position in shares of FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 41 shares during the period. EFG International AG purchased a new stake in shares of FedEx in the 4th quarter worth $27,000. Finally, Tucker Asset Management LLC bought a new position in FedEx in the 4th quarter worth $29,000. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of FedEx in a research report on Friday, June 26th. Stephens raised shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. The Goldman Sachs Group dropped their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Bank of America raised their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, UBS Group dropped their target price on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Trading Down 1.6%

FedEx stock opened at $315.93 on Friday. The stock has a market cap of $74.74 billion, a P/E ratio of 17.07, a PEG ratio of 1.65 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The firm’s 50 day moving average price is $337.21 and its 200-day moving average price is $350.30.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $22.19 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, equities analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio is 26.36%.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.