Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in FedEx Corporation $FDX

Key Points

• Mitsubishi UFJ Asset Management purchased 539,219 FedEx shares worth approximately $168.8 million, giving it a 0.23% stake. Institutional investors collectively own 84.47% of FedEx.
• FedEx reported quarterly EPS of $5.88 on revenue of $23.26 billion, while its annualized dividend is $4.88 per share, yielding about 1.5%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $350.54 versus the stock’s opening price of $331.86.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 539,219 shares of the shipping service provider's stock, valued at approximately $168,846,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of FedEx at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FDX. Sivia Capital Partners LLC purchased a new stake in FedEx in the 2nd quarter valued at $586,000. Canada Post Corp Registered Pension Plan grew its stake in shares of FedEx by 85.9% in the 4th 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. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of FedEx by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider's stock worth $12,081,000 after acquiring an additional 6,864 shares in the last quarter. North Dakota State Investment Board purchased a new stake in shares of FedEx in the fourth quarter valued at about $2,122,000. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Down 0.8%

FedEx stock opened at $331.86 on Tuesday. FedEx Corporation has a 1-year low of $177.05 and a 1-year high of $345.36. The firm has a market capitalization of $78.51 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a 50 day simple moving average of $319.43 and a 200 day simple moving average of $351.54.

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

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued 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 is 26.36%.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction 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. The trade was a 23.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on FDX. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a "buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Citizens Jmp assumed coverage on FedEx in a report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 price target on the stock. Rothschild & Co Redburn cut their price objective on FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. Barclays lowered their target price on FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 17th. Finally, The Goldman Sachs Group decreased their price objective on shares of FedEx from $405.00 to $375.00 and set a "buy" rating for the company in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $350.54.

About FedEx

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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