International Assets Investment Management LLC Acquires New Position in FedEx Corporation (NYSE:FDX)

International Assets Investment Management LLC acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 136,890 shares of the shipping service provider’s stock, valued at approximately $33,371,000. FedEx makes up approximately 1.0% of International Assets Investment Management LLC’s portfolio, making the stock its 11th largest holding. International Assets Investment Management LLC owned 0.06% of FedEx at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. purchased a new stake in shares of FedEx in the 1st quarter valued at approximately $147,000. Farther Finance Advisors LLC grew its stake in shares of FedEx by 27.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider’s stock valued at $538,000 after buying an additional 481 shares during the period. Allianz SE purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $18,342,000. Parvin Asset Management LLC purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $281,000. Finally, Landscape Capital Management L.L.C. grew its stake in shares of FedEx by 87.2% in the 4th 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 buying an additional 6,180 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.4%

FDX stock opened at $229.22 on Tuesday. The company’s 50 day simple moving average is $218.67 and its 200-day simple moving average is $243.96. The firm has a market capitalization of $54.92 billion, a PE ratio of 14.38, a P/E/G ratio of 1.08 and a beta of 1.35. FedEx Corporation has a 12 month low of $194.30 and a 12 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.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be given a $1.45 dividend. The ex-dividend date is Monday, June 23rd. This is a positive change from FedEx’s previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.53%. FedEx’s dividend payout ratio is currently 36.39%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research analyst reports. Sanford C. Bernstein lowered their price objective on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a research report on Friday, June 13th. Stifel Nicolaus decreased their price target on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Barclays decreased their price objective on shares of FedEx from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, June 3rd. Finally, Citigroup decreased their price objective on shares of FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $292.54.

Insider Activity

In related news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.87% of the company’s stock.

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.