ASR Vermogensbeheer N.V. Buys New Stake in FedEx Corporation (NYSE:FDX)

Key Points

• ASR Vermogensbeheer N.V. acquired 31,123 shares of FedEx Corporation, valued at approximately $7,588,000, marking a strategic investment in the company during the first quarter.
• FedEx increased its quarterly dividend to $1.45 per share, up from $1.38, reflecting an annualized dividend yield of 2.6%.
• Analysts have a consensus rating of "Moderate Buy" on FedEx stock, with a target price of $283.25, indicating positive market sentiment despite mixed ratings from various firms.

ASR Vermogensbeheer N.V. acquired a new position in FedEx Corporation (NYSE:FDX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 31,123 shares of the shipping service provider's stock, valued at approximately $7,588,000.

Other large investors have also modified their holdings of the company. Transce3nd LLC acquired a new position in shares of FedEx in the fourth quarter worth about $26,000. Accredited Wealth Management LLC acquired a new position in shares of FedEx in the fourth quarter worth about $35,000. Abound Financial LLC acquired a new position in shares of FedEx in the first quarter worth about $38,000. Optiver Holding B.V. acquired a new position in shares of FedEx in the fourth quarter worth about $39,000. Finally, Ameriflex Group Inc. acquired a new position in shares of FedEx in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FDX shares. TD Cowen decreased their price objective on shares of FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. UBS Group reduced their price target on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Susquehanna upped their price target on shares of FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research report on Wednesday, June 25th. Stephens restated an "overweight" rating and set a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Finally, Citigroup upped their price target on shares of FedEx from $259.00 to $278.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $283.25.

Insider Buying and Selling

In other FedEx news, Director R Brad Martin sold 2,123 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the sale, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. This represents a 19.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the sale, the director owned 15,513 shares in the company, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,343 shares of company stock valued at $2,228,816. Company insiders own 8.87% of the company's stock.

FedEx Stock Performance

FedEx stock opened at $226.64 on Thursday. The firm has a 50 day simple moving average of $228.11 and a 200-day simple moving average of $234.36. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The stock has a market cap of $53.46 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter last year, the company posted $5.41 EPS. On average, analysts expect that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is 34.36%.

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.

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