International Assets Investment Management LLC Has $2.15 Billion Holdings in FedEx Co. (NYSE:FDX)

International Assets Investment Management LLC lifted its position in FedEx Co. (NYSE:FDX) by 473.8% during the third quarter, HoldingsChannel.com reports. The fund owned 784,691 shares of the shipping service provider’s stock after purchasing an additional 647,926 shares during the period. International Assets Investment Management LLC’s holdings in FedEx were worth $2,147,540,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares during the period. Capital International Investors raised its position in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares during the period. Mawer Investment Management Ltd. raised its position in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares during the period. Ameriprise Financial Inc. raised its position in shares of FedEx by 34.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after acquiring an additional 578,350 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after acquiring an additional 121,240 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FDX. Bernstein Bank increased their price target on shares of FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Stifel Nicolaus lowered their target price on FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research note on Friday, September 20th. UBS Group lowered their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group lowered their target price on FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Finally, Loop Capital lowered their target price on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.17.

FedEx Price Performance

NYSE:FDX opened at $268.02 on Thursday. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. 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 fifty day simple moving average of $279.32 and a 200 day simple moving average of $274.85. The stock has a market capitalization of $65.95 billion, a PE ratio of 15.56, a P/E/G ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion during the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business posted $4.55 earnings per share. FedEx’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 19.6 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio is 32.04%.

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.