FedEx Corporation $FDX Shares Bought by Avanza Fonder AB

Avanza Fonder AB boosted its holdings in shares of FedEx Corporation (NYSE:FDXFree Report) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,979 shares of the shipping service provider’s stock after purchasing an additional 2,685 shares during the quarter. Avanza Fonder AB’s holdings in FedEx were worth $7,215,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its stake in FedEx by 2.3% during the third quarter. New York State Teachers Retirement System now owns 207,077 shares of the shipping service provider’s stock worth $48,831,000 after purchasing an additional 4,734 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of FedEx by 10.6% in the third quarter. D.A. Davidson & CO. now owns 48,424 shares of the shipping service provider’s stock valued at $11,419,000 after buying an additional 4,634 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of FedEx by 11.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider’s stock valued at $8,243,000 after buying an additional 3,514 shares during the period. Savant Capital LLC lifted its stake in FedEx by 32.5% during the 3rd quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock worth $9,437,000 after acquiring an additional 9,806 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in FedEx by 34.9% during the 3rd quarter. Pacer Advisors Inc. now owns 24,085 shares of the shipping service provider’s stock worth $5,679,000 after acquiring an additional 6,234 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

FedEx Trading Down 0.8%

NYSE:FDX opened at $355.82 on Tuesday. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $392.86. The stock has a market cap of $84.90 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.61 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The stock has a 50-day simple moving average of $352.08 and a 200-day simple moving average of $292.68.

FedEx (NYSE:FDXGet Free Report) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.51 earnings per share. As a group, analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th will be given a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, March 9th. FedEx’s payout ratio is currently 30.87%.

Wall Street Analyst Weigh In

FDX has been the subject of several research reports. Stifel Nicolaus lifted their target price on FedEx from $412.00 to $425.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial increased their price target on shares of FedEx from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James Financial raised their price objective on shares of FedEx from $305.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Zacks Research cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. Finally, Citigroup increased their target price on shares of FedEx from $327.00 to $401.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $393.85.

Get Our Latest Report 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.

See Also

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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