Handelsbanken Fonder AB Has $25.33 Million Stock Position in FedEx Co. (NYSE:FDX)

Handelsbanken Fonder AB lifted its position in shares of FedEx Co. (NYSE:FDX) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,563 shares of the shipping service provider’s stock after purchasing an additional 1,397 shares during the quarter. Handelsbanken Fonder AB’s holdings in FedEx were worth $25,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of FedEx by 0.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,095 shares of the shipping service provider’s stock worth $3,313,000 after acquiring an additional 73 shares during the period. 1832 Asset Management L.P. lifted its stake in FedEx by 1.2% during the fourth quarter. 1832 Asset Management L.P. now owns 10,200 shares of the shipping service provider’s stock worth $2,580,000 after purchasing an additional 125 shares during the period. Pinebridge Investments L.P. boosted its holdings in FedEx by 104.4% during the fourth quarter. Pinebridge Investments L.P. now owns 13,457 shares of the shipping service provider’s stock valued at $3,404,000 after purchasing an additional 6,872 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of FedEx by 2.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 336,416 shares of the shipping service provider’s stock valued at $85,103,000 after purchasing an additional 6,914 shares during the period. Finally, Morningstar Investment Services LLC acquired a new position in shares of FedEx in the 4th quarter worth approximately $219,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Down 0.5 %

NYSE FDX traded down $1.24 during trading hours on Friday, hitting $260.84. The company’s stock had a trading volume of 1,638,679 shares, compared to its average volume of 1,881,833. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The firm has a market capitalization of $64.19 billion, a P/E ratio of 15.14, a PEG ratio of 1.04 and a beta of 1.17. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $284.62 and a 200 day moving average of $275.94.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period last year, the company earned $4.55 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 19.66 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 2.12%. FedEx’s payout ratio is currently 32.04%.

Insider Activity at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the business’s 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 completion of the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at $6,189,042.91. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,914 shares of company stock worth $3,978,338 in the last ninety days. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FDX. Raymond James lowered their price target on FedEx from $335.00 to $330.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Hsbc Global Res lowered shares of FedEx from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. TD Cowen cut their price target on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. The Goldman Sachs Group decreased their price objective on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Finally, Bank of America cut their target price on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

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.