1,660 Shares in FedEx Corporation $FDX Purchased by Oslo Pensjonsforsikring AS

Oslo Pensjonsforsikring AS purchased a new position in FedEx Corporation (NYSE:FDX) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,660 shares of the shipping service provider’s stock, valued at approximately $591,000.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft lowered FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. The Goldman Sachs Group lowered their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Wolfe Research cut their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, Bank of America raised their target price on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction 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 transaction, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by company insiders.

FedEx Price Performance

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

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

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s payout ratio is presently 26.36%.

About FedEx

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.