FedEx Co. (NYSE:FDX) is Mizuho Markets Americas LLC’s 3rd Largest Position

Mizuho Markets Americas LLC lowered its stake in FedEx Co. (NYSE:FDX) by 43.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 756,881 shares of the shipping service provider’s stock after selling 585,332 shares during the period. FedEx makes up approximately 4.3% of Mizuho Markets Americas LLC’s holdings, making the stock its 3rd largest holding. Mizuho Markets Americas LLC owned about 0.31% of FedEx worth $207,143,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Capital International Investors raised its stake in shares of FedEx by 32.5% during the first 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 last quarter. Vanguard Group Inc. lifted its holdings in FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock worth $5,756,602,000 after buying an additional 1,056,061 shares during the period. International Assets Investment Management LLC grew its position in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock worth $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of FedEx by 34.6% during the second quarter. Ameriprise Financial Inc. now owns 2,248,137 shares of the shipping service provider’s stock valued at $674,336,000 after buying an additional 578,350 shares during the period. Finally, Ceredex Value Advisors LLC lifted its stake in FedEx by 77.8% in the third quarter. Ceredex Value Advisors LLC now owns 368,107 shares of the shipping service provider’s stock worth $101,022,000 after acquiring an additional 161,022 shares during the period. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. TD Cowen cut their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Bernstein Bank raised their target price on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Evercore ISI reduced their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Loop Capital lowered their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Finally, Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.04.

FedEx Stock Performance

Shares of NYSE FDX opened at $294.46 on Friday. The stock has a market cap of $71.94 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.17. FedEx Co. has a 1 year low of $234.45 and a 1 year high of $313.84. The firm has a fifty day moving average price of $275.40 and a 200-day moving average price of $276.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.55 earnings per share. Equities analysts anticipate that FedEx Co. will post 19.59 earnings per share for the current fiscal 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 paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.87%. FedEx’s payout ratio is 34.05%.

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.