Meiji Yasuda Asset Management Co Ltd. Makes New $1.94 Million Investment in FedEx Corporation $FDX

Meiji Yasuda Asset Management Co Ltd. purchased a new position in FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,197 shares of the shipping service provider’s stock, valued at approximately $1,940,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of FedEx during the second quarter worth about $6,508,103,000. State Street Corp raised its position in shares of FedEx by 4.2% in the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after buying an additional 382,848 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after buying an additional 318,293 shares during the period. Geode Capital Management LLC boosted its position in FedEx by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after acquiring an additional 45,818 shares during the last quarter. Finally, Invesco Ltd. boosted its position in FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after acquiring an additional 108,426 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.65% of the stock is currently owned by company insiders.

FedEx Stock Up 2.8%

Shares of NYSE FDX opened at $334.05 on Tuesday. The stock has a market capitalization of $79.06 billion, a PE ratio of 18.05, a P/E/G ratio of 1.67 and a beta of 1.30. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average of $318.95 and a 200-day moving average of $351.51. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion for the quarter. On average, analysts anticipate that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, September 14th. FedEx’s dividend payout ratio (DPR) is 26.36%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FDX. Jefferies Financial Group started coverage on FedEx in a report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target for the company. TD Cowen decreased their price objective on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. HSBC lowered their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research report on Monday, June 1st. Sanford C. Bernstein set a $397.00 target price on FedEx in a research note on Wednesday, June 24th. Finally, Wells Fargo & Company reduced their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx 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.