FedEx Corporation $FDX Shares Sold by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB reduced its stake in FedEx Corporation by 82.5%, from holding 172,653 shares to 30,238 shares, valuing its holdings at $6.9 million.
• Analysts have adjusted price targets for FedEx, with Barclays maintaining an "overweight" rating and setting a target of $320.00, while TD Cowen raised their target to $271.00.
• FedEx reported a quarterly EPS of $3.83, exceeding expectations, and achieved a revenue of $22.20 billion, marking a 3.1% year-over-year increase.

Nordea Investment Management AB trimmed its stake in FedEx Corporation (NYSE:FDX - Free Report) by 82.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,238 shares of the shipping service provider's stock after selling 142,415 shares during the period. Nordea Investment Management AB's holdings in FedEx were worth $6,895,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after purchasing an additional 207 shares during the period. Exchange Traded Concepts LLC raised its position in shares of FedEx by 60.0% in the first quarter. Exchange Traded Concepts LLC now owns 576 shares of the shipping service provider's stock valued at $140,000 after buying an additional 216 shares during the last quarter. PFG Investments LLC raised its position in shares of FedEx by 11.8% in the first quarter. PFG Investments LLC now owns 4,413 shares of the shipping service provider's stock valued at $1,076,000 after buying an additional 465 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of FedEx by 350.0% in the first quarter. Intact Investment Management Inc. now owns 900 shares of the shipping service provider's stock valued at $219,000 after buying an additional 700 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of FedEx by 42.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 210,827 shares of the shipping service provider's stock valued at $51,395,000 after buying an additional 63,093 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FDX shares. Barclays reiterated an "overweight" rating and set a $320.00 price objective (down from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. TD Cowen upped their target price on shares of FedEx from $269.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, September 19th. BMO Capital Markets decreased their target price on shares of FedEx from $260.00 to $255.00 and set a "market perform" rating for the company in a research note on Friday, September 19th. UBS Group upped their price target on shares of FedEx from $293.00 to $314.00 and gave the company a "buy" rating in a report on Friday, September 19th. Finally, Stephens reaffirmed an "overweight" rating and issued a $260.00 price target on shares of FedEx in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus price target of $271.83.

FedEx Stock Performance

Shares of FDX opened at $239.97 on Tuesday. The firm has a 50-day moving average price of $232.20 and a 200 day moving average price of $225.75. The firm has a market capitalization of $56.62 billion, a PE ratio of 14.01, a P/E/G ratio of 1.33 and a beta of 1.28. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.73. FedEx Corporation has a 52-week low of $194.29 and a 52-week high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Thursday, September 18th. The shipping service provider reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.71 by $0.12. FedEx had a net margin of 4.65% and a return on equity of 16.33%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.74 billion. During the same quarter last year, the firm posted $3.60 EPS. The business's revenue for the quarter was up 3.1% on a year-over-year basis. FedEx has set its FY 2026 guidance at 17.200-19.000 EPS. On average, sell-side analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, September 8th. FedEx's dividend payout ratio is 33.86%.

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.

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