Mizuho Securities USA LLC Buys 17,924 Shares of FedEx Co. (NYSE:FDX)

Mizuho Securities USA LLC increased its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 102.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,377 shares of the shipping service provider's stock after buying an additional 17,924 shares during the quarter. Mizuho Securities USA LLC's holdings in FedEx were worth $9,682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FDX. Czech National Bank grew its stake in FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock worth $12,564,000 after buying an additional 2,767 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in FedEx during the 2nd quarter worth approximately $9,226,000. Raymond James & Associates boosted its stake in shares of FedEx by 6.9% during the 3rd quarter. Raymond James & Associates now owns 485,698 shares of the shipping service provider's stock worth $132,926,000 after buying an additional 31,241 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in FedEx during the second quarter valued at approximately $22,052,000. Finally, Versor Investments LP bought a new position in shares of FedEx in the 3rd quarter valued at about $2,096,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Analysts Set New Price Targets

FDX has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $359.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, September 20th. Loop Capital decreased their target price on FedEx from $317.00 to $288.00 and set a "hold" rating on the stock in a research report on Monday, September 23rd. Bank of America dropped their price target on FedEx from $347.00 to $345.00 and set a "buy" rating for the company in a report on Wednesday, September 18th. BMO Capital Markets decreased their price objective on FedEx from $325.00 to $300.00 and set a "market perform" rating on the stock in a report on Friday, September 20th. Finally, The Goldman Sachs Group dropped their target price on FedEx from $333.00 to $332.00 in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $316.04.

FedEx Trading Up 0.7 %

NYSE FDX traded up $2.17 during trading on Friday, hitting $294.46. 1,506,570 shares of the company's stock traded hands, compared to its average volume of 1,346,451. The firm has a market cap of $71.94 billion, a P/E ratio of 18.17, a PEG ratio of 1.23 and a beta of 1.17. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The stock has a fifty day moving average of $275.40 and a two-hundred day moving average of $276.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $4.55 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 9th. FedEx's payout ratio is 34.05%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.