Nordea Investment Management AB increased its position in FedEx Co. (NYSE:FDX) by 63.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,548,876 shares of the shipping service provider’s stock after buying an additional 601,465 shares during the period. Nordea Investment Management AB’s holdings in FedEx were worth $280,985,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its holdings in shares of FedEx by 7.2% during the first quarter. Lindbrook Capital LLC now owns 808 shares of the shipping service provider’s stock valued at $146,000 after buying an additional 54 shares during the last quarter. Nachman Norwood & Parrott Inc raised its holdings in shares of FedEx by 1.0% during the first quarter. Nachman Norwood & Parrott Inc now owns 5,385 shares of the shipping service provider’s stock valued at $980,000 after buying an additional 55 shares during the last quarter. Associated Banc Corp raised its holdings in shares of FedEx by 3.7% during the first quarter. Associated Banc Corp now owns 1,644 shares of the shipping service provider’s stock valued at $298,000 after buying an additional 59 shares during the last quarter. Traynor Capital Management Inc. raised its holdings in shares of FedEx by 1.2% during the first quarter. Traynor Capital Management Inc. now owns 5,317 shares of the shipping service provider’s stock valued at $964,000 after buying an additional 61 shares during the last quarter. Finally, McIlrath & Eck LLC raised its holdings in shares of FedEx by 27.5% during the first quarter. McIlrath & Eck LLC now owns 283 shares of the shipping service provider’s stock valued at $51,000 after buying an additional 61 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors.
In other FedEx news, CEO Frederick W. Smith sold 155,650 shares of FedEx stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of FedEx stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the completion of the transaction, the executive vice president now owns 200,320 shares in the company, valued at approximately $34,715,456. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,650 shares of company stock worth $34,751,470. 8.50% of the stock is currently owned by company insiders.
Shares of NYSE:FDX opened at $164.55 on Monday. FedEx Co. has a 12 month low of $150.68 and a 12 month high of $264.99. The company has a market cap of $42.88 billion, a P/E ratio of 10.75, a PEG ratio of 0.79 and a beta of 1.69. The company has a current ratio of 1.46, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). The business had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.72 EPS. As a group, analysts anticipate that FedEx Co. will post 15.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Monday, June 24th will be given a $0.65 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.60 annualized dividend and a yield of 1.58%. FedEx’s dividend payout ratio (DPR) is 16.98%.
A number of equities research analysts have recently weighed in on FDX shares. UBS Group cut their price target on FedEx from $161.00 to $145.00 and set a “sell” rating on the stock in a report on Friday, May 31st. Berenberg Bank cut FedEx from a “buy” rating to a “hold” rating and cut their price target for the company from $245.00 to $200.00 in a report on Monday, April 1st. JPMorgan Chase & Co. cut FedEx from an “overweight” rating to a “neutral” rating and cut their price target for the company from $227.00 to $202.00 in a report on Wednesday, March 20th. Credit Suisse Group lifted their price target on FedEx from $236.00 to $241.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Cowen reaffirmed an “outperform” rating and set a $237.00 price target (down previously from $242.00) on shares of FedEx in a report on Thursday, March 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. FedEx has a consensus rating of “Hold” and an average price target of $202.43.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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