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

Mizuho Markets Americas LLC increased its holdings in shares of FedEx Corporation (NYSE:FDX) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447,067 shares of the shipping service provider’s stock after acquiring an additional 2,805 shares during the period. FedEx makes up 4.3% of Mizuho Markets Americas LLC’s investment portfolio, making the stock its 3rd largest holding. Mizuho Markets Americas LLC owned about 0.19% of FedEx worth $159,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of FedEx in the 4th quarter worth approximately $859,085,000. Boston Partners bought a new position in FedEx during the 3rd quarter valued at approximately $468,195,000. AQR Capital Management LLC raised its stake in FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after buying an additional 1,718,278 shares during the last quarter. Waddell & Associates LLC boosted its holdings in FedEx by 164.0% in the fourth quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock worth $343,206,000 after acquiring an additional 738,122 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in FedEx by 3,211.5% in the third quarter. Two Sigma Investments LP now owns 549,306 shares of the shipping service provider’s stock worth $129,532,000 after acquiring an additional 532,718 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 1.6%

FedEx stock opened at $315.93 on Friday. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. The business’s fifty day moving average is $337.21 and its 200 day moving average is $350.30. The stock has a market capitalization of $74.74 billion, a PE ratio of 17.07, a price-to-earnings-growth 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 (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 business had revenue of $22.19 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, sell-side analysts predict that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders 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 payout ratio is presently 26.36%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FDX shares. Stifel Nicolaus reduced their price target on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut shares of FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. Rothschild & Co Redburn dropped their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Finally, Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Profile

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.