Massachusetts Financial Services Co. MA Has $134.65 Million Stake in FedEx Corporation $FDX

Key Points

• Massachusetts Financial Services Co. MA increased its FedEx stake by 103.2% in Q4 to 466,139 shares worth $134.65 million, and institutional investors now own about 84.47% of the company.
• FedEx beat quarterly expectations, reporting $5.25 EPS vs. $4.12 estimated and $24 billion in revenue (up 8.3% YoY); analysts maintain a consensus rating of "Moderate Buy" with an average price target of $398.04 and several firms raising targets into the $360–$380 range.
• FedEx declared a quarterly dividend of $1.45 (annualized $5.80) for a yield of ~1.6% and a payout ratio of about 30.9%.

Massachusetts Financial Services Co. MA raised its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 103.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 466,139 shares of the shipping service provider's stock after buying an additional 236,707 shares during the period. Massachusetts Financial Services Co. MA owned about 0.20% of FedEx worth $134,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. True Wealth Design LLC increased its holdings in shares of FedEx by 8.2% during the fourth quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider's stock worth $133,000 after buying an additional 35 shares in the last quarter. ORG Partners LLC increased its holdings in shares of FedEx by 50.0% during the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after buying an additional 35 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of FedEx by 1.4% during the fourth quarter. Brookstone Capital Management now owns 2,835 shares of the shipping service provider's stock worth $819,000 after buying an additional 38 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of FedEx by 0.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 8,896 shares of the shipping service provider's stock worth $2,570,000 after buying an additional 38 shares in the last quarter. Finally, YANKCOM Partnership increased its holdings in shares of FedEx by 1.3% during the fourth quarter. YANKCOM Partnership now owns 3,210 shares of the shipping service provider's stock worth $927,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FDX. Rothschild & Co Redburn raised their price objective on shares of FedEx from $317.00 to $371.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Zacks Research lowered shares of FedEx from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 18th. Evercore raised their price target on shares of FedEx from $364.00 to $380.00 in a report on Tuesday, February 24th. Royal Bank Of Canada lowered shares of FedEx to a "sector perform" rating in a report on Wednesday, December 17th. Finally, HSBC raised shares of FedEx from a "reduce" rating to a "hold" rating and set a $360.00 price target for the company in a report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $398.04.

FedEx Price Performance

FDX opened at $371.21 on Tuesday. The company has a fifty day moving average price of $366.49 and a two-hundred day moving average price of $306.53. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. FedEx Corporation has a 52 week low of $201.03 and a 52 week high of $392.86. The firm has a market capitalization of $88.57 billion, a PE ratio of 19.76, a P/E/G ratio of 1.64 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the previous year, the business earned $4.51 EPS. The business's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th were given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, March 9th. FedEx's dividend payout ratio (DPR) is currently 30.87%.

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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