Skandinaviska Enskilda Banken AB publ Sells 100 Shares of FedEx Co. (NYSE:FDX)

Skandinaviska Enskilda Banken AB publ decreased its stake in FedEx Co. (NYSE:FDX) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,247 shares of the shipping service provider’s stock after selling 100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in FedEx were worth $14,167,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after acquiring an additional 1,056,061 shares in the last quarter. Capital International Investors grew its holdings in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after acquiring an additional 2,163,622 shares in the last quarter. Putnam Investments LLC grew its holdings in shares of FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after acquiring an additional 798,084 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of FedEx by 43.5% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,258,579 shares of the shipping service provider’s stock valued at $654,401,000 after acquiring an additional 684,679 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of FedEx by 5.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,182,504 shares of the shipping service provider’s stock valued at $654,312,000 after acquiring an additional 121,240 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of several analyst reports. Raymond James decreased their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. cut their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. BMO Capital Markets cut their target price on shares of FedEx from $325.00 to $300.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Susquehanna cut their target price on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $312.84.

Insider Activity at FedEx

In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the transaction, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares in the company, valued at approximately $278,293.20. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 over the last three months. 8.73% of the stock is owned by insiders.

FedEx Stock Down 15.2 %

Shares of FDX opened at $254.63 on Friday. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The firm’s 50 day moving average is $292.43 and its 200-day moving average is $274.85. The stock has a market capitalization of $62.66 billion, a PE ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. During the same period in the prior year, the business posted $4.55 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 20.82 EPS for the current year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.17%. FedEx’s dividend payout ratio (DPR) is 32.04%.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.