Mizuho Securities USA LLC Sells 3,562 Shares of FedEx Corporation (NYSE:FDX)

Key Points

• Mizuho Securities USA LLC reduced its stake in FedEx by 16.7%, selling 3,562 shares and bringing its total holdings to 17,742 shares valued at approximately $4.32 million.
• FedEx's latest earnings report showed earnings per share of $6.07, surpassing analysts' expectations of $5.98, alongside revenues of $22.20 billion.
• The company will pay a quarterly dividend of $1.45 per share on October 1st, representing an annual dividend yield of 2.5%.

Mizuho Securities USA LLC lowered its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,742 shares of the shipping service provider's stock after selling 3,562 shares during the period. Mizuho Securities USA LLC's holdings in FedEx were worth $4,325,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Regal Investment Advisors LLC boosted its stake in FedEx by 2.4% during the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after acquiring an additional 38 shares in the last quarter. Garner Asset Management Corp lifted its stake in shares of FedEx by 0.7% in the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after buying an additional 41 shares in the last quarter. Curi RMB Capital LLC lifted its stake in shares of FedEx by 1.3% in the fourth quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock worth $1,017,000 after buying an additional 47 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of FedEx by 2.6% in the first quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider's stock worth $457,000 after buying an additional 48 shares in the last quarter. Finally, Benin Management CORP lifted its stake in shares of FedEx by 0.3% in the first quarter. Benin Management CORP now owns 16,198 shares of the shipping service provider's stock worth $3,949,000 after buying an additional 50 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 3,610 shares of the company's stock in a transaction 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 transaction, the director owned 15,513 shares in the company, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This represents a 19.20% 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 worth $2,228,816. 8.87% of the stock is owned by insiders.

FedEx Stock Performance

Shares of NYSE FDX opened at $227.87 on Friday. The firm has a fifty day moving average price of $228.40 and a 200-day moving average price of $233.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The stock has a market cap of $53.75 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same period in the prior year, the company posted $5.41 earnings per share. Equities analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be given a dividend of $1.45 per share. The ex-dividend date is Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.5%. FedEx's dividend payout ratio is currently 34.36%.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. BMO Capital Markets dropped their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research note on Monday, May 19th. Sanford C. Bernstein dropped their target price on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research note on Friday, June 13th. Stifel Nicolaus set a $315.00 target price on shares of FedEx in a research note on Wednesday, June 25th. Stephens reiterated an "overweight" rating and issued a $300.00 target price on shares of FedEx in a research note on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of FedEx from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $283.25.

About FedEx

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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