Asahi Life Asset Management CO. LTD. Acquires New Shares in FedEx Co. (NYSE:FDX)

Asahi Life Asset Management CO. LTD. bought a new position in shares of FedEx Co. (NYSE:FDX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,705 shares of the shipping service provider’s stock, valued at approximately $467,000.

A number of other institutional investors have also added to or reduced their stakes in FDX. SeaCrest Wealth Management LLC increased its holdings in FedEx by 0.6% during the second quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock valued at $1,683,000 after buying an additional 34 shares during the period. LRI Investments LLC lifted its stake in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC boosted its position in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock valued at $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC grew its stake in FedEx by 2.4% in the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares during the last quarter. Finally, Sachetta LLC raised its holdings in FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. UBS Group reduced their price target on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Loop Capital decreased their price objective on FedEx from $317.00 to $288.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Finally, BMO Capital Markets dropped their target price on FedEx from $325.00 to $300.00 and set a “market perform” rating on the stock in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Price Performance

FDX traded up $2.15 during midday trading on Monday, hitting $274.27. 118,843 shares of the company traded hands, compared to its average volume of 1,826,214. The company has a market capitalization of $67.01 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.08 and a beta of 1.17. FedEx Co. has a 52-week low of $229.07 and a 52-week high of $313.84. The business has a 50 day simple moving average of $278.83 and a two-hundred day simple moving average of $274.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the company earned $4.55 EPS. FedEx’s revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s dividend payout ratio (DPR) 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.