Avanza Fonder AB Sells 2,245 Shares of FedEx Co. (NYSE:FDX)

Avanza Fonder AB decreased its stake in FedEx Co. (NYSE:FDX - Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,276 shares of the shipping service provider's stock after selling 2,245 shares during the period. Avanza Fonder AB's holdings in FedEx were worth $5,461,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FDX. Brighton Jones LLC grew its holdings in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in FedEx in the 4th quarter valued at about $84,000. Vest Financial LLC lifted its stake in FedEx by 21.7% in the 4th quarter. Vest Financial LLC now owns 1,494 shares of the shipping service provider's stock valued at $420,000 after purchasing an additional 266 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in FedEx by 8.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,261 shares of the shipping service provider's stock valued at $917,000 after purchasing an additional 247 shares during the last quarter. Finally, Quotient Wealth Partners LLC lifted its stake in FedEx by 14.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,099 shares of the shipping service provider's stock valued at $309,000 after purchasing an additional 137 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

FedEx Trading Down 0.5%

FDX stock traded down $1.05 during midday trading on Friday, hitting $223.95. The stock had a trading volume of 1,888,309 shares, compared to its average volume of 1,852,838. The firm has a market cap of $53.66 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. 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 1-year low of $194.30 and a 1-year high of $313.84. The business has a fifty day moving average price of $216.82 and a two-hundred day moving average price of $247.37.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (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 analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.86 EPS. On average, sell-side analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued a $1.45 dividend. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.59%. FedEx's payout ratio is presently 34.63%.

Insider Activity at FedEx

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FDX shares. TD Cowen cut their target price on shares of FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Bank of America cut their price objective on shares of FedEx from $272.00 to $270.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Barclays cut their price objective on shares of FedEx from $350.00 to $330.00 and set an "overweight" rating for the company in a research report on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. Finally, Stephens reiterated an "overweight" rating and issued a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and an average price target of $292.54.

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.