Asset Management One Co. Ltd. Purchases 4,766 Shares of FedEx Corporation (NYSE:FDX)

Asset Management One Co. Ltd. grew its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 4.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 102,117 shares of the shipping service provider's stock after acquiring an additional 4,766 shares during the period. Asset Management One Co. Ltd.'s holdings in FedEx were worth $24,894,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FDX. NBC Securities Inc. bought a new position in FedEx during the 1st quarter worth $147,000. Farther Finance Advisors LLC increased its stake in shares of FedEx by 27.6% in the first quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock valued at $538,000 after buying an additional 481 shares during the period. Allianz SE bought a new position in shares of FedEx during the fourth quarter worth about $18,342,000. Parvin Asset Management LLC acquired a new position in shares of FedEx in the fourth quarter worth approximately $281,000. Finally, Landscape Capital Management L.L.C. boosted its holdings in FedEx by 87.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider's stock valued at $3,734,000 after acquiring an additional 6,180 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

FedEx Stock Up 3.8%

Shares of NYSE:FDX traded up $8.30 during midday trading on Friday, hitting $229.37. 4,051,499 shares of the company's stock were exchanged, compared to its average volume of 1,848,267. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.19. FedEx Corporation has a 12 month low of $194.30 and a 12 month high of $313.84. The company has a market cap of $54.96 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.35. The stock has a 50 day moving average price of $220.19 and a 200-day moving average price of $242.96.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter in the previous year, the business earned $5.41 EPS. On average, sell-side analysts anticipate that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, June 23rd. This is a boost from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.53%. FedEx's dividend payout ratio (DPR) is 36.39%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company lifted their target price on shares of FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Truist Financial restated a "buy" rating and issued a $275.00 target price on shares of FedEx in a report on Wednesday. Cfra Research upgraded FedEx to a "hold" rating in a report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on FedEx in a research note on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and an average price target of $285.17.

FedEx Company 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.