Lansforsakringar Fondforvaltning AB publ Invests $44.69 Million in FedEx Co. (NYSE:FDX)

Lansforsakringar Fondforvaltning AB publ bought a new stake in FedEx Co. (NYSE:FDX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 158,853 shares of the shipping service provider's stock, valued at approximately $44,690,000. Lansforsakringar Fondforvaltning AB publ owned about 0.07% of FedEx at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FDX. Regal Investment Advisors LLC raised its position in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after buying an additional 38 shares during the period. Griffin Asset Management Inc. boosted its holdings in FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider's stock valued at $2,916,000 after purchasing an additional 40 shares during the last quarter. Aviso Financial Inc. increased its stake in shares of FedEx by 1.2% in the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after buying an additional 40 shares during the last quarter. Garner Asset Management Corp lifted its position in shares of FedEx by 0.7% during the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after purchasing an additional 41 shares during the last quarter. Finally, WealthPlan Investment Management LLC lifted its position in shares of FedEx by 2.6% in the 4th quarter. WealthPlan Investment Management LLC now owns 1,680 shares of the shipping service provider's stock worth $473,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity at FedEx

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Oppenheimer reissued a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Barclays cut their target price on FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. TD Cowen lowered their price target on FedEx from $337.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Stephens reiterated an "overweight" rating and issued a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. Finally, Citigroup cut their price target on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $296.17.

FedEx Stock Performance

NYSE:FDX traded down $2.35 during trading hours on Friday, hitting $217.91. 2,339,089 shares of the company traded hands, compared to its average volume of 1,829,067. The firm has a 50-day moving average of $218.75 and a 200 day moving average of $252.97. The stock has a market capitalization of $52.21 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.11 and a beta of 1.36. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $3.86 earnings per share. On average, analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx 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.