Andra AP fonden Increases Stock Position in FedEx Corporation $FDX

Key Points

• Andra AP fonden increased its FedEx position by 55.5% in the second quarter, adding 24,740 shares to own 69,318 shares valued at approximately $21.7 million. Institutional investors collectively own 84.47% of FedEx.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $362.99, despite some recent target-price reductions and a downgrade to “Hold.”
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue and declared a quarterly dividend of $1.22 per share, or $4.88 annually, yielding about 1.6%.

Andra AP fonden lifted its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 55.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,318 shares of the shipping service provider's stock after purchasing an additional 24,740 shares during the period. Andra AP fonden's holdings in FedEx were worth $21,706,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of FedEx during the 2nd quarter worth approximately $6,508,103,000. Primecap Management Co. CA purchased a new stake in shares of FedEx during the second quarter valued at approximately $2,554,138,000. Franklin Resources Inc. lifted its holdings in FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider's stock worth $1,482,785,000 after acquiring an additional 318,293 shares during the period. Geode Capital Management LLC boosted its position in FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider's stock worth $1,443,666,000 after purchasing an additional 45,818 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in FedEx by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider's stock worth $936,688,000 after purchasing an additional 52,963 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a "buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Stephens raised shares of FedEx to a "strong-buy" rating in a research report on Wednesday, July 8th. Bank of America boosted their target price on shares of FedEx from $376.00 to $378.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Finally, BNP Paribas Exane decreased their price target on shares of FedEx from $335.00 to $269.76 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $362.99.

FedEx Stock Performance

NYSE FDX traded up $1.12 during trading on Tuesday, hitting $296.91. 635,936 shares of the company's stock traded hands, compared to its average volume of 2,074,121. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market capitalization of $70.27 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.62 and a beta of 1.32. FedEx Corporation has a 12-month low of $179.69 and a 12-month high of $345.36. The business has a 50 day moving average of $318.30 and a 200-day moving average of $343.09.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. As a group, equities research analysts anticipate that FedEx Corporation will post 17.55 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx's payout ratio is presently 26.36%.

Insider Activity

In other FedEx news, Director Paul Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by corporate insiders.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company's offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.