Deutsche Bank AG Purchases New Holdings in FedEx Corporation $FDX

Key Points

• Deutsche Bank acquired 631,483 FedEx shares in the second quarter, valued at approximately $197.7 million, giving it a 0.27% stake. Institutional investors collectively own 84.47% of FedEx.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $350.54, despite several firms recently lowering their targets.
• FedEx shares opened at $328.43, while the company recently reported quarterly revenue of $23.26 billion and EPS of $5.88. Its quarterly dividend of $1.22 per share equates to an annualized yield of approximately 1.5%.

Deutsche Bank AG bought a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 631,483 shares of the shipping service provider's stock, valued at approximately $197,736,000. Deutsche Bank AG owned 0.27% of FedEx as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Sivia Capital Partners LLC purchased a new position in shares of FedEx during the 2nd quarter valued at $586,000. Canada Post Corp Registered Pension Plan raised its holdings in shares of FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock worth $1,962,000 after acquiring an additional 3,138 shares in the last quarter. North Dakota State Investment Board acquired a new stake in FedEx during the fourth quarter valued at $2,122,000. OMERS ADMINISTRATION Corp boosted its position in FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock valued at $6,169,000 after purchasing an additional 8,868 shares during the last quarter. Finally, First Nebraska Trust Co purchased a new position in FedEx in the first quarter valued at about $10,675,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FDX shares. Bank of America upped their target price on FedEx from $376.00 to $378.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. UBS Group cut their price objective on shares of FedEx from $445.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Jefferies Financial Group initiated coverage on shares of FedEx in a research note on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 target price for the company. BNP Paribas Exane decreased their target price on shares of FedEx from $335.00 to $269.76 and set a "neutral" rating for the company in a research report on Tuesday, June 2nd. Finally, Barclays dropped their price target on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $350.54.

FedEx Trading Down 0.9%

Shares of NYSE:FDX opened at $328.43 on Wednesday. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36. The company has a market cap of $77.70 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.72 and a beta of 1.30. The stock's 50-day moving average is $319.36 and its 200-day moving average is $351.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion for the quarter. Equities research analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio (DPR) is 26.36%.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company's stock, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.

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.

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