Mizuho Markets Americas LLC Trims Position in FedEx Co. (NYSE:FDX)

Mizuho Markets Americas LLC reduced its position in shares of FedEx Co. (NYSE:FDX) by 43.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 756,881 shares of the shipping service provider’s stock after selling 585,332 shares during the quarter. FedEx comprises approximately 4.3% of Mizuho Markets Americas LLC’s holdings, making the stock its 3rd largest holding. Mizuho Markets Americas LLC’s holdings in FedEx were worth $207,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SeaCrest Wealth Management LLC lifted its stake in FedEx by 0.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the last quarter. LRI Investments LLC raised its holdings in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after buying an additional 36 shares during the period. Ascent Wealth Partners LLC lifted its stake in shares of FedEx by 0.5% during the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC boosted its holdings in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after acquiring an additional 37 shares during the period. Finally, Sachetta LLC grew its position in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after acquiring an additional 37 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 0.7 %

Shares of FedEx stock opened at $294.46 on Friday. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The firm’s 50 day simple moving average is $275.40 and its two-hundred day simple moving average is $276.27. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $71.94 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $4.55 EPS. Analysts predict that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. FedEx’s dividend payout ratio is presently 34.05%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FDX shares. BMO Capital Markets decreased their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research report on Friday, September 20th. Bank of America decreased their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Citigroup raised their target price on shares of FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $316.04.

FedEx 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.