Handelsbanken Fonder AB Grows Stake in FedEx Corporation $FDX

Handelsbanken Fonder AB increased its stake in shares of FedEx Corporation (NYSE:FDX) by 9.3% in the 2nd quarter, Holdings Channel reports. The firm owned 115,179 shares of the shipping service provider’s stock after purchasing an additional 9,783 shares during the period. Handelsbanken Fonder AB’s holdings in FedEx were worth $36,066,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FDX shares. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a report on Wednesday, June 24th. Stephens raised shares of FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. BMO Capital Markets restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a research note on Friday, June 26th. Finally, Seaport Research Partners started coverage on shares of FedEx in a report on Wednesday, May 27th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

FedEx Stock Down 1.0%

Shares of FDX opened at $321.93 on Wednesday. FedEx Corporation has a 52-week low of $176.00 and a 52-week high of $345.36. The company has a market capitalization of $76.17 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.67 and a beta of 1.30. The stock has a fifty day simple moving average of $319.07 and a two-hundred day simple moving average of $350.81. 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 (NYSE:FDX) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, equities analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

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

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

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.