6,197 Shares in FedEx Corporation $FDX Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,197 shares of the shipping service provider’s stock, valued at approximately $1,940,000.

A number of other institutional investors also recently bought and sold shares of FDX. Sivia Capital Partners LLC acquired a new stake in FedEx in the second quarter valued at about $586,000. Canada Post Corp Registered Pension Plan increased its position in FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after purchasing an additional 3,138 shares during the period. North Dakota State Investment Board purchased a new position in shares of FedEx during the 4th quarter worth approximately $2,122,000. OMERS ADMINISTRATION Corp raised its stake in shares of FedEx by 104.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock worth $6,169,000 after buying an additional 8,868 shares in the last quarter. Finally, First Nebraska Trust Co acquired a new stake in shares of FedEx in the 1st quarter valued at approximately $10,675,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on FDX shares. Stifel Nicolaus decreased their price target on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. TD Cowen cut their price objective on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. HSBC reduced their target price on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a report on Monday, June 1st. BNP Paribas Exane lowered their price target on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Finally, Wells Fargo & Company cut their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated 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 sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $334.05 on Tuesday. The business has a 50 day moving average price of $318.95 and a 200 day moving average price of $351.51. The company has a market capitalization of $79.06 billion, a P/E ratio of 18.05, a PEG ratio of 1.67 and a beta of 1.30. FedEx Corporation has a 1-year low of $177.05 and a 1-year high of $345.36. 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 (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 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%. Sell-side analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be given a $1.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s payout ratio is currently 26.36%.

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.