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Topic: Growth Stocks

FEDEX CORP. $128 – New York symbol FDX

FEDEX CORP. $128 (New York symbol FDX; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 275.6 million; Market cap: $35.3 billion; Price-to-sales ratio: 0.7; Dividend yield: 0.8%; TSINetwork Rating: Average; www.fedex.com) has received approval from U.S. and European regulators for its $4.6-billion purchase of TNT Express NV, a Netherlands-based courier that operates throughout Europe.

The deal makes FedEx the second-largest courier in Europe, with 22% of the market. That’s just behind leader United Parcel Services, which has 25%.

Regulators in other countries, including China and Brazil, must approve the deal. However, FedEx expects to complete it by June 30, 2016.

FedEx is a buy.

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