Mizuho Markets Americas LLC Raises Stake in FedEx Corporation $FDX

Mizuho Markets Americas LLC grew its holdings in shares of FedEx Corporation (NYSE:FDX) by 78.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 444,262 shares of the shipping service provider’s stock after purchasing an additional 195,564 shares during the period. FedEx makes up 2.5% of Mizuho Markets Americas LLC’s portfolio, making the stock its 10th biggest holding. Mizuho Markets Americas LLC’s holdings in FedEx were worth $128,330,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after buying an additional 2,741,723 shares in the last quarter. Dodge & Cox grew its position in FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after buying an additional 1,742,666 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of FedEx by 5.9% in the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock valued at $1,135,411,000 after buying an additional 269,567 shares in the last quarter. Invesco Ltd. lifted its position in shares of FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after acquiring an additional 108,426 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of 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 worth $638,203,000 after purchasing an additional 1,718,278 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Barclays reaffirmed its Buy rating on FedEx, and Citi also initiated/maintained a bullish stance with a $443 price target, reinforcing expectations for further upside. FedEx Barclays reiterates its buy rating
• Positive Sentiment: UBS said FedEx has potential upside from margin improvement, suggesting profitability trends could support a higher valuation. FedEx Facing Potential Upside Backed by Margin Improvement, UBS Securities Says
• Positive Sentiment: FedEx-led consortium’s $9 billion bid for InPost is moving forward, with the tender offer window opening May 26, signaling continued strategic expansion in European parcel logistics. FedEx-Led $9 Billion Buyout Offer Window For Polish Parcel Firm InPost Opens May-End
• Positive Sentiment: FedEx is also among large U.S. companies seeking tariff refunds, which could provide a modest cash-flow benefit if successful. Trump said he’d ‘remember’ companies that didn’t apply for tariff refunds. Many of them are anyway
• Neutral Sentiment: Analyst and value-stock commentary continues to frame FedEx as a long-term market favorite, but these articles are mostly supportive rather than catalysts on their own. What Are Wall Street Analysts’ Target Price for FedEx Stock?

FedEx Stock Performance

Shares of NYSE FDX opened at $394.18 on Friday. FedEx Corporation has a 12 month low of $214.35 and a 12 month high of $404.03. The company has a market cap of $94.05 billion, a P/E ratio of 20.98, a P/E/G ratio of 1.47 and a beta of 1.29. The business’s 50 day moving average is $371.05 and its two-hundred day moving average is $332.81. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. During the same period in the prior year, the business earned $4.51 earnings per share. FedEx’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts expect that FedEx Corporation will post 19.72 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 12th. TD Cowen increased their price target on shares of FedEx from $383.00 to $426.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Wolfe Research lowered their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. UBS Group dropped their price target on shares of FedEx from $446.00 to $445.00 and set a “buy” rating on the stock in a research note on Friday. Finally, BMO Capital Markets lifted their price objective on shares of FedEx from $400.00 to $410.00 and gave the company a “market perform” rating in a research note on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $399.62.

Insider Activity at FedEx

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president directly owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This represents a 30.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares in the company, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,104 shares of company stock valued at $17,599,006 in the last quarter. Company insiders own 0.53% of the company’s stock.

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.