Andra AP fonden Has $15.88 Million Position in FedEx Corporation $FDX

Andra AP fonden increased its holdings in shares of FedEx Corporation (NYSE:FDX) by 7.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 44,578 shares of the shipping service provider’s stock after purchasing an additional 3,278 shares during the period. Andra AP fonden’s holdings in FedEx were worth $15,878,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 207 shares during the last quarter. Empowered Funds LLC raised its position in shares of FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after buying an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of FedEx in the second quarter valued at about $586,000. Quantbot Technologies LP bought a new stake in shares of FedEx in the second quarter valued at about $186,000. Finally, Jump Financial LLC acquired a new stake in FedEx during the second quarter worth about $456,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group began coverage on FedEx in a report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target for the company. Citigroup started coverage on FedEx in a report on Wednesday, July 15th. They set an “outperform” rating on the stock. Raymond James Financial cut their target price on FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, June 24th. TD Cowen reduced their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Finally, Weiss Ratings downgraded shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Stock Up 3.0%

NYSE FDX opened at $315.27 on Wednesday. The firm has a market cap of $75.23 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. The stock’s 50 day simple moving average is $339.44 and its 200 day simple moving average is $349.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm had revenue of $22.19 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, sell-side analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

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

FedEx Company 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.