Mizuho Securities USA LLC Acquires 17,924 Shares of FedEx Co. (NYSE:FDX)

Mizuho Securities USA LLC boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 102.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,377 shares of the shipping service provider’s stock after purchasing an additional 17,924 shares during the quarter. Mizuho Securities USA LLC’s holdings in FedEx were worth $9,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors grew its stake in FedEx by 32.5% during the first quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of FedEx by 34.6% in the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock worth $674,336,000 after purchasing an additional 578,350 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 121,240 shares during the last quarter. Sentry LLC boosted its stake in FedEx by 0.5% during the second quarter. Sentry LLC now owns 1,219,405 shares of the shipping service provider’s stock valued at $365,626,000 after buying an additional 6,657 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in FedEx by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,056,561 shares of the shipping service provider’s stock valued at $306,129,000 after buying an additional 82,201 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on FDX shares. Stephens reiterated an “overweight” rating and set a $350.00 target price on shares of FedEx in a research report on Friday, September 20th. Bernstein Bank lifted their price objective on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Raymond James decreased their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Robert W. Baird dropped their price target on FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, TD Cowen decreased their price objective on FedEx from $334.00 to $328.00 and set a “buy” rating 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 given a buy rating to the company. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Performance

Shares of FedEx stock opened at $294.46 on Friday. 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’s fifty day moving average price is $275.40 and its 200-day moving average price is $276.37. The firm has a market cap of $71.94 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.17 and a beta of 1.17. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last posted 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). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same period last year, the business posted $4.55 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $1.38 per share. The ex-dividend date is Monday, December 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.87%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

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.