MUFG Securities EMEA plc Boosts Stock Holdings in FedEx Corporation (NYSE:FDX)

Key Points

• MUFG Securities EMEA plc increased its holdings in FedEx by 550.1% in Q1, now owning 38,999 shares valued at approximately $9.51 million.
• FedEx will pay a quarterly dividend of $1.45 on October 1st, representing an annual yield of 2.5%.
• Analysts maintain a Moderate Buy consensus rating for FedEx, with an average price target of $283.25 following recent adjustments from several brokerage firms.

MUFG Securities EMEA plc grew its position in FedEx Corporation (NYSE:FDX - Free Report) by 550.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,999 shares of the shipping service provider's stock after acquiring an additional 33,000 shares during the period. MUFG Securities EMEA plc's holdings in FedEx were worth $9,507,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Transce3nd LLC bought a new position in FedEx during the 4th quarter worth $26,000. Accredited Wealth Management LLC bought a new position in FedEx during the 4th quarter worth $35,000. Abound Financial LLC bought a new position in FedEx during the 1st quarter worth $38,000. Optiver Holding B.V. bought a new position in FedEx during the 4th quarter worth $39,000. Finally, Ameriflex Group Inc. bought a new position in FedEx during the 4th quarter worth $43,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In other news, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the transaction, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock valued at $2,228,816 in the last 90 days. 8.87% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FDX has been the subject of several analyst reports. Sanford C. Bernstein lowered their target price on FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research report on Friday, June 13th. Stephens reiterated an "overweight" rating and set a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. Wells Fargo & Company increased their price target on FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 25th. BNP Paribas Exane upgraded FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price target for the company in a report on Thursday, July 3rd. Finally, Cowen reiterated a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Stock Performance

Shares of NYSE FDX traded down $2.37 during midday trading on Wednesday, reaching $228.06. The company's stock had a trading volume of 2,096,418 shares, compared to its average volume of 1,994,583. 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 capitalization of $53.80 billion, a P/E ratio of 13.50, a PEG ratio of 1.17 and a beta of 1.30. The firm has a 50 day moving average price of $228.74 and a 200-day moving average price of $232.81. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The company had revenue of $22.20 billion for 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 quarter in the previous year, the firm posted $5.41 EPS. As a group, equities analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

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

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.