2,629 Shares in FedEx Corporation $FDX Bought by Strategy Asset Managers LLC

Strategy Asset Managers LLC acquired a new position in shares of FedEx Corporation (NYSE:FDX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,629 shares of the shipping service provider’s stock, valued at approximately $750,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in FedEx during the 2nd quarter valued at $6,508,103,000. Primecap Management Co. CA purchased a new position in FedEx in the second quarter valued at about $2,554,138,000. Dimensional Fund Advisors LP lifted its stake in FedEx by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock valued at $936,688,000 after purchasing an additional 52,963 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of FedEx by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock worth $760,328,000 after acquiring an additional 125,950 shares during the period. Finally, Bank of America Corp DE bought a new position in FedEx during the second quarter worth about $579,171,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 0.2%

FDX opened at $291.31 on Thursday. The company has a fifty day moving average price of $310.36 and a 200-day moving average price of $334.79. The firm has a market capitalization of $68.94 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx Corporation has a one year low of $185.06 and a one year high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The company had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Equities research analysts expect that FedEx Corporation will post 17.53 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio (DPR) is 26.36%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FDX shares. Wells Fargo & Company reduced their price target on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Jefferies Financial Group assumed coverage on FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target on the stock. UBS Group decreased their price target on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 24th. Finally, Stifel Nicolaus lowered their price target on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.64.

About FedEx

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.