International Assets Investment Management LLC acquired a new position in FedEx Corporation (NYSE:FDX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 136,890 shares of the shipping service provider's stock, valued at approximately $33,371,000. FedEx makes up approximately 1.0% of International Assets Investment Management LLC's holdings, making the stock its 11th largest position. International Assets Investment Management LLC owned approximately 0.06% of FedEx as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in the business. Transce3nd LLC bought a new stake in FedEx during the fourth quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of FedEx in the 4th quarter worth approximately $28,000. Runnymede Capital Advisors Inc. bought a new position in shares of FedEx during the 4th quarter valued at approximately $32,000. Accredited Wealth Management LLC purchased a new stake in FedEx during the 4th quarter valued at $35,000. Finally, Optiver Holding B.V. bought a new stake in FedEx in the fourth quarter worth $39,000. 84.47% of the stock is currently owned by institutional investors.
Insider Activity at FedEx
In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.87% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms have weighed in on FDX. UBS Group cut their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a research report on Wednesday. Cowen reiterated a "buy" rating on shares of FedEx in a report on Wednesday. Bank of America decreased their price objective on shares of FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday. Susquehanna upped their target price on FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research note on Wednesday. Finally, Stephens reiterated an "overweight" rating and issued a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $285.75.
Read Our Latest Stock Analysis on FedEx
FedEx Stock Down 3.2%
FedEx stock traded down $7.44 during mid-day trading on Wednesday, reaching $222.07. 8,088,172 shares of the company were exchanged, compared to its average volume of 1,891,023. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.84. The business has a fifty day moving average of $219.11 and a 200 day moving average of $243.86. The firm has a market cap of $53.21 billion, a P/E ratio of 13.93, a PEG ratio of 1.15 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24.
FedEx (NYSE:FDX - Get Free Report) last issued 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. FedEx had a return on equity of 16.00% and a net margin of 4.46%. The firm had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. During the same period in the prior year, the business posted $5.41 EPS. Research analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.
FedEx Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is 36.39%.
About FedEx
(
Free Report)
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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