Andra AP fonden Buys 3,278 Shares of FedEx Corporation $FDX

Andra AP fonden boosted its position in shares of FedEx Corporation (NYSE:FDX) by 7.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 44,578 shares of the shipping service provider’s stock after purchasing an additional 3,278 shares during the quarter. Andra AP fonden’s holdings in FedEx were worth $15,878,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FDX. Sivia Capital Partners LLC acquired a new position in FedEx during the 2nd quarter valued at about $586,000. CWM LLC boosted its stake in shares of FedEx by 32.2% in the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock valued at $31,206,000 after purchasing an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan grew its position in shares of FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after buying an additional 3,138 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of FedEx by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after buying an additional 6,864 shares during the period. Finally, North Dakota State Investment Board bought a new stake in shares of FedEx during the fourth quarter worth approximately $2,122,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Seaport Research Partners started coverage on FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. TD Cowen reduced their price target on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. HSBC decreased their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Finally, The Goldman Sachs Group dropped their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

FedEx Price Performance

FDX opened at $315.27 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The company has a fifty day simple moving average of $339.44 and a 200 day simple moving average of $349.91. The stock has a market cap of $75.23 billion, a P/E ratio of 17.03, a P/E/G ratio of 1.58 and a beta of 1.29.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $22.19 billion for the quarter. On average, research analysts expect that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s payout ratio is currently 26.36%.

FedEx Profile

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.