Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in FedEx Corporation $FDX

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of FedEx Corporation (NYSE:FDX) in the second quarter, Holdings Channel.com reports. The firm purchased 539,219 shares of the shipping service provider’s stock, valued at approximately $168,846,000.

Other institutional investors have also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. boosted its stake in FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after buying an additional 26 shares during the period. OneAscent Financial Services LLC increased its stake in FedEx by 1.7% in the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after acquiring an additional 29 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in shares of FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock valued at $119,000 after acquiring an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of FedEx by 11.9% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after acquiring an additional 30 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its holdings in shares of FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 target price on the stock. Raymond James Financial cut their price target on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, June 24th. Truist Financial lowered their price objective on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. UBS Group cut their target price on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group dropped their price target on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Trading Down 0.8%

NYSE FDX opened at $331.86 on Tuesday. The stock has a market cap of $78.51 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. FedEx Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36. The stock has a 50 day simple moving average of $319.43 and a two-hundred day simple moving average of $351.54. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm 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%. On average, analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s payout ratio is presently 26.36%.

FedEx Company Profile

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.