Strategic Investment Advisors MI Has $2.12 Million Stock Position in FedEx Corporation (NYSE:FDX)

Strategic Investment Advisors MI increased its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,713 shares of the shipping service provider's stock after buying an additional 1,429 shares during the quarter. Strategic Investment Advisors MI's holdings in FedEx were worth $2,124,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. NBC Securities Inc. bought a new position in FedEx in the 1st quarter worth approximately $147,000. Farther Finance Advisors LLC boosted its position in FedEx by 27.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock worth $538,000 after acquiring an additional 481 shares during the period. Allianz SE acquired a new position in FedEx during the 4th quarter worth $18,342,000. Parvin Asset Management LLC bought a new position in shares of FedEx in the fourth quarter worth $281,000. Finally, Landscape Capital Management L.L.C. increased its holdings in shares of FedEx by 87.2% during the fourth quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider's stock valued at $3,734,000 after purchasing an additional 6,180 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. TD Cowen reduced their price objective on shares of FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of FedEx from $260.00 to $290.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company increased their price objective on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday. UBS Group lowered their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Cfra Research upgraded FedEx to a "hold" rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, FedEx currently has an average rating of "Moderate Buy" and a consensus price target of $285.17.

FedEx Trading Down 0.5%

FedEx stock traded down $1.01 during midday trading on Thursday, reaching $220.99. The stock had a trading volume of 4,708,661 shares, compared to its average volume of 1,884,976. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19. The firm has a market cap of $52.95 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.15 and a beta of 1.35. The firm's fifty day simple moving average is $219.48 and its two-hundred day simple moving average is $243.71.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.54% and a net margin of 4.65%. The business had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter last year, the firm posted $5.41 earnings per share. Equities analysts anticipate that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a $1.45 dividend. This is an increase from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.62%. FedEx's dividend payout ratio is currently 36.39%.

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.