Mizuho Securities USA LLC Raises Holdings in FedEx Co. (NYSE:FDX)

Mizuho Securities USA LLC lifted its stake in FedEx Co. (NYSE:FDX) by 102.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,377 shares of the shipping service provider’s stock after acquiring an additional 17,924 shares during the period. Mizuho Securities USA LLC’s holdings in FedEx were worth $9,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Evermay Wealth Management LLC lifted its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 40 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of FedEx in the third quarter worth about $31,000. Central Valley Advisors LLC acquired a new stake in shares of FedEx during the second quarter worth about $39,000. Abound Wealth Management boosted its position in FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in FedEx during the 3rd quarter worth approximately $47,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

FedEx stock opened at $294.46 on Friday. The company has a fifty day simple moving average of $275.40 and a 200-day simple moving average of $276.37. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $71.94 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings data 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). The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.55 EPS. On average, equities analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Dividend Announcement

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

Analyst Upgrades and Downgrades

FDX has been the topic of several recent research reports. BMO Capital Markets dropped their price objective on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a report on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Loop Capital decreased their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. dropped their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Finally, Raymond James lowered their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $316.04.

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.