FedEx Corporation $FDX Shares Purchased by PensionDanmark Pensionsforsikringsaktieselskab

Key Points

• PensionDanmark increased its FedEx position by 15.9% in the second quarter, purchasing 3,475 additional shares and bringing its holdings to 25,299 shares valued at approximately $7.9 million. Institutional investors and hedge funds collectively own 84.47% of FedEx.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $350.54, although several firms recently reduced their targets.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share. Its shares opened at $318.64, while the company paid a quarterly dividend of $1.22 per share, representing a 1.5% yield.

PensionDanmark Pensionsforsikringsaktieselskab raised its position in FedEx Corporation (NYSE:FDX - Free Report) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,299 shares of the shipping service provider's stock after purchasing an additional 3,475 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in FedEx were worth $7,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after acquiring an additional 207 shares in the last quarter. Empowered Funds LLC increased its stake in FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock valued at $2,514,000 after purchasing an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of FedEx during the 2nd quarter worth approximately $586,000. Quantbot Technologies LP purchased a new stake in shares of FedEx during the 2nd quarter worth approximately $186,000. Finally, Jump Financial LLC acquired a new position in shares of FedEx in the 2nd quarter valued at $456,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Stephens raised shares of FedEx to a "strong-buy" rating in a research report on Wednesday, July 8th. Barclays decreased their price objective on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research note on Wednesday, June 17th. Bank of America raised their target price on shares of FedEx from $376.00 to $378.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Wells Fargo & Company lowered their price target on FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a report on Wednesday, June 17th. Finally, Raymond James Financial lowered their price objective on shares of FedEx from $415.00 to $330.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and a consensus price target of $350.54.

FedEx Price Performance

FedEx stock opened at $318.64 on Friday. The company has a market cap of $75.39 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.30. FedEx Corporation has a one year low of $176.00 and a one year high of $345.36. The business has a fifty day moving average of $319.48 and a two-hundred day moving average of $350.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion for the quarter. As a group, analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx's dividend payout ratio is presently 26.36%.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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