Massachusetts Financial Services Co. MA Purchases 236,707 Shares of FedEx Corporation $FDX

Massachusetts Financial Services Co. MA lifted its position in shares of FedEx Corporation (NYSE:FDX) by 103.2% during the fourth quarter, HoldingsChannel reports. The firm owned 466,139 shares of the shipping service provider’s stock after buying an additional 236,707 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in FedEx were worth $134,649,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ulland Investment Advisors LLC bought a new position in shares of FedEx during the fourth quarter worth $29,000. ORG Partners LLC lifted its position in FedEx by 50.0% in the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock valued at $30,000 after acquiring an additional 35 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in FedEx in the 3rd quarter valued at $27,000. Wealth Watch Advisors INC bought a new stake in FedEx in the 3rd quarter valued at $28,000. Finally, Ameriflex Group Inc. lifted its position in FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock valued at $29,000 after acquiring an additional 63 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FDX. Jefferies Financial Group boosted their price target on shares of FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Barclays boosted their price target on FedEx from $360.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Argus boosted their price target on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a research report on Friday, December 19th. Finally, Sanford C. Bernstein upped their target price on shares of FedEx from $457.00 to $470.00 and gave the company an “outperform” rating in a report on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $398.04.

FedEx Stock Down 0.8%

Shares of FDX stock opened at $371.21 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The firm’s 50-day moving average is $366.49 and its 200-day moving average is $306.53. The stock has a market cap of $88.57 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.64 and a beta of 1.28. FedEx Corporation has a 52-week low of $201.03 and a 52-week high of $392.86.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.51 EPS. Sell-side analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th were issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, March 9th. FedEx’s dividend payout ratio is currently 30.87%.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.