AMF Tjanstepension AB Makes New Investment in FedEx Corporation (NYSE:FDX)

Key Points

• AMF Tjanstepension AB invested approximately $878,000 in FedEx, purchasing 3,603 shares in the first quarter, highlighting the company's potential attractiveness to institutional investors.
• FedEx reported $6.07 earnings per share for the last quarter, exceeding the consensus estimate of $5.98, and had a revenue of $22.20 billion, which was above analyst expectations.
• The firm announced a quarterly dividend of $1.45 per share to be paid on October 1st, reflecting an annualized dividend yield of 2.5% and a payout ratio of 34.36%.

AMF Tjanstepension AB purchased a new position in FedEx Corporation (NYSE:FDX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,603 shares of the shipping service provider's stock, valued at approximately $878,000.

Several other institutional investors have also added to or reduced their stakes in the business. Regal Investment Advisors LLC increased its stake in FedEx by 2.4% in the fourth quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after purchasing an additional 38 shares during the last quarter. Garner Asset Management Corp raised its stake in 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 period. Curi RMB Capital LLC boosted its holdings in shares of FedEx by 1.3% in the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock valued at $1,017,000 after purchasing an additional 47 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of FedEx by 2.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider's stock valued at $457,000 after purchasing an additional 48 shares during the last quarter. Finally, Benin Management CORP grew its stake in shares of FedEx by 0.3% during the 1st quarter. Benin Management CORP now owns 16,198 shares of the shipping service provider's stock valued at $3,949,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FDX. Stephens reissued an "overweight" rating and set a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. JPMorgan Chase & Co. upped their price objective on FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Wall Street Zen raised FedEx from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. BMO Capital Markets decreased their price objective on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a report on Monday, May 19th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $260.00 price objective (down from $275.00) on shares of FedEx in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Price Performance

Shares of NYSE:FDX traded down $3.43 on Monday, reaching $224.62. 1,520,496 shares of the company traded hands, compared to its average volume of 1,891,064. The company's 50 day moving average is $228.40 and its 200-day moving average is $233.17. The stock has a market capitalization of $52.99 billion, a PE ratio of 12.51, a P/E/G ratio of 1.19 and a beta of 1.30. FedEx Corporation has a fifty-two week low of $194.29 and a fifty-two week high of $308.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. As a group, analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, September 8th. FedEx's dividend payout ratio (DPR) is currently 34.36%.

Insider Activity

In related news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. This trade represents a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is owned by insiders.

About FedEx

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.