FedEx Corporation $FDX Holdings Lifted by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd increased its FedEx stake by 461.7% in the third quarter, adding 850,597 shares to own 1.03 million shares worth approximately $295 million. Institutional investors collectively own 84.47% of FedEx.
• Analysts maintain a generally positive outlook, with FedEx carrying a consensus “Moderate Buy” rating and an average price target of $354.64, compared with the stock’s recent price of $292.77.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share, while its quarterly dividend of $1.22 per share implies an annualized yield of about 1.7%.

Ninety One UK Ltd lifted its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 461.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,034,829 shares of the shipping service provider's stock after acquiring an additional 850,597 shares during the period. Ninety One UK Ltd owned approximately 0.44% of FedEx worth $295,019,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FDX. BlackRock Inc. acquired a new stake in shares of FedEx in the 2nd quarter valued at about $6,508,103,000. Primecap Management Co. CA bought a new stake in shares of FedEx in the second quarter valued at about $2,554,138,000. Dimensional Fund Advisors LP boosted its position in shares of FedEx by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider's stock worth $936,688,000 after buying an additional 52,963 shares during the period. Bank of New York Mellon Corp boosted its position in shares of FedEx by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider's stock worth $760,328,000 after buying an additional 125,950 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of FedEx during the second quarter worth about $579,171,000. Institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent research reports. Stephens raised FedEx to a "strong-buy" rating in a research report on Wednesday, July 8th. BNP Paribas Exane upped their price target on FedEx from $269.80 to $300.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 30th. BMO Capital Markets reaffirmed a "market perform" rating on shares of FedEx in a research note on Wednesday, June 24th. Barclays lowered their price objective on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a report on Wednesday, June 17th. Finally, Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $354.64.

FedEx Stock Up 0.5%

FDX stock traded up $1.49 during mid-day trading on Thursday, reaching $292.77. The company had a trading volume of 301,392 shares, compared to its average volume of 2,021,361. The company has a market capitalization of $69.29 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.55 and a beta of 1.28. FedEx Corporation has a 52 week low of $186.40 and a 52 week high of $345.36. The stock has a 50 day simple moving average of $310.36 and a two-hundred day simple moving average of $334.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

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. The company had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, equities analysts predict that FedEx Corporation will post 17.53 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, September 14th. FedEx's dividend payout ratio is 26.36%.

FedEx Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company's services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.

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