International Assets Investment Management LLC Increases Holdings in FedEx Co. (NYSE:FDX)

International Assets Investment Management LLC increased its stake in shares of FedEx Co. (NYSE:FDX) by 8,610.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 166,972 shares of the shipping service provider’s stock after purchasing an additional 165,055 shares during the period. International Assets Investment Management LLC owned 0.07% of FedEx worth $42,239,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mizuho Markets Americas LLC bought a new position in shares of FedEx in the third quarter valued at approximately $496,611,000. FMR LLC grew its position in shares of FedEx by 29.1% during the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock valued at $1,076,619,000 after purchasing an additional 916,555 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of FedEx by 144.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,008,037 shares of the shipping service provider’s stock valued at $267,135,000 after purchasing an additional 595,628 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of FedEx by 112.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 694,435 shares of the shipping service provider’s stock worth $183,970,000 after buying an additional 367,683 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in FedEx by 13.6% during the third quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock valued at $796,042,000 after buying an additional 360,680 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

FDX opened at $260.66 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. The stock has a market capitalization of $64.14 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23. The stock’s 50 day moving average price is $263.93 and its 200-day moving average price is $254.81. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter in the previous year, the business posted $3.41 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 17.69 EPS for the current year.

FedEx declared that its Board of Directors has initiated a share buyback plan on Thursday, March 21st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the shipping service provider to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

Insider Activity

In related news, CEO Sriram Krishnasamy sold 354 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares of the company’s stock, valued at $3,223,600.93. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now directly owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock worth $37,758,773 in the last quarter. 8.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research analyst reports. Melius Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price on the stock in a research note on Monday, January 8th. Evercore ISI raised their target price on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. TD Cowen lifted their target price on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. BMO Capital Markets increased their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Finally, The Goldman Sachs Group lifted their price objective on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.33.

FedEx Company 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.