Jupiter Asset Management Ltd. Buys Shares of 17,373 FedEx Corporation (NYSE:FDX)

Key Points

• Jupiter Asset Management Ltd. has acquired 17,373 shares of FedEx Corporation, valued at approximately $4.235 million, during the first quarter.
• FedEx recently increased its quarterly dividend from $1.38 to $1.45 per share, leading to an annualized dividend of $5.80 with a yield of 2.7%.
• Analysts have mixed opinions on FedEx, with price targets ranging from $259 to $311, and the stock receiving 19 buy ratings but also two sell ratings.

Jupiter Asset Management Ltd. bought a new stake in FedEx Corporation (NYSE:FDX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,373 shares of the shipping service provider's stock, valued at approximately $4,235,000.

Several other large investors have also modified their holdings of FDX. Brighton Jones LLC lifted its holdings in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after acquiring an additional 207 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of FedEx during the 4th quarter worth about $18,703,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of FedEx during the 4th quarter worth about $28,000. Aviva PLC lifted its holdings in shares of FedEx by 68.7% during the 4th quarter. Aviva PLC now owns 139,538 shares of the shipping service provider's stock worth $39,256,000 after acquiring an additional 56,803 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of FedEx by 3.6% during the 4th quarter. Russell Investments Group Ltd. now owns 384,292 shares of the shipping service provider's stock worth $108,112,000 after acquiring an additional 13,395 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FDX shares. 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 report on Wednesday, June 25th. Citigroup increased their price objective on shares of FedEx from $259.00 to $278.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target on the stock in a report on Thursday, July 3rd. Stephens restated an "overweight" rating and issued a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. Finally, TD Cowen cut their price target on shares of FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $283.25.

FedEx Trading Down 2.9%

NYSE FDX opened at $217.02 on Monday. The company's fifty day simple moving average is $227.85 and its 200-day simple moving average is $234.90. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock has a market cap of $51.20 billion, a P/E ratio of 12.86, a PEG ratio of 1.13 and a beta of 1.30.

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 for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter last year, the company earned $5.41 earnings per share. Equities research analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, June 23rd. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.7%. FedEx's dividend payout ratio is 34.36%.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the sale, the director owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the sale, the director directly owned 7,720 shares of the company's stock, valued at $1,829,176.80. The trade was a 31.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is currently owned by corporate insiders.

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.

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