FedEx Corporation $FDX Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of FedEx Corporation (NYSE:FDXFree Report) by 173.3% during the first quarter, Holdings Channel reports. The fund owned 46,809 shares of the shipping service provider’s stock after purchasing an additional 29,683 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in FedEx were worth $16,672,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FDX. EFG International AG acquired a new stake in FedEx during the 4th quarter valued at approximately $27,000. Wealth Watch Advisors INC purchased a new stake in FedEx during the 3rd quarter worth approximately $28,000. Ameriflex Group Inc. increased its holdings in FedEx by 103.3% during the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in shares of FedEx in the 4th quarter valued at approximately $29,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of FDX opened at $326.36 on Friday. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The firm has a market cap of $77.87 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.48 and a beta of 1.28. The stock has a 50 day moving average of $368.64 and a 200-day moving average of $344.62.

FedEx (NYSE:FDXGet Free Report) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period in the prior year, the company posted $4.51 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts forecast that FedEx Corporation will post 19.78 EPS for the current year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s payout ratio is currently 30.87%.

FedEx News Summary

Here are the key news stories impacting FedEx this week:

Insider Buying and Selling at FedEx

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last ninety days. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FDX shares. Jefferies Financial Group raised their price target on shares of FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Wells Fargo & Company cut their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets reduced their price objective on shares of FedEx from $410.00 to $340.00 and set a “market perform” rating on the stock in a research note on Monday, June 1st. Sanford C. Bernstein set a $424.00 price objective on shares of FedEx in a report on Thursday. Finally, Citigroup started coverage on shares of FedEx in a research report on Thursday, May 21st. They issued a “buy” rating and a $443.00 target price for the company. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $367.76.

Get Our Latest Stock Analysis on FDX

FedEx Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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