Fjarde AP Fonden Fourth Swedish National Pension Fund Buys Shares of 22,250 FedEx Corporation $FDX

Key Points

• Fjarde AP Fonden disclosed a new position in FedEx, buying 22,250 shares in the first quarter worth about $7.9 million.
• FedEx reported better-than-expected quarterly results, with EPS of $6.31 versus the $5.91 estimate and revenue of $25.01 billion, up 12.5% year over year.
• Analyst sentiment remains mixed but constructive overall: the stock has a Moderate Buy consensus rating, even as several firms trimmed price targets; FedEx also recently cut its dividend to $1.22 per quarter.

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in FedEx Corporation (NYSE:FDX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,250 shares of the shipping service provider's stock, valued at approximately $7,925,000.

Several other hedge funds have also recently bought and sold shares of the business. Bayban bought a new position in FedEx during the first quarter worth $26,000. EFG International AG bought a new position in FedEx in the fourth quarter worth $27,000. Wealth Watch Advisors INC acquired a new stake in shares of FedEx during the 3rd quarter valued at about $28,000. Ameriflex Group Inc. boosted its holdings in FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider's stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Finally, Ulland Investment Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FDX shares. HSBC decreased their price target on FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a research report on Monday, June 1st. Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. Seaport Research Partners initiated coverage on FedEx in a report on Wednesday, May 27th. They set a "buy" rating on the stock. Citigroup boosted their price target on shares of FedEx from $356.73 to $359.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Finally, TD Cowen decreased their price objective on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $349.60.

Insider Buying and Selling

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares in the company, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares in the company, valued at $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,146 shares of company stock worth $19,235,438 in the last ninety days. Insiders own 0.53% of the company's stock.

FedEx Trading Up 0.1%

Shares of NYSE:FDX opened at $313.21 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average of $356.40 and a 200-day moving average of $348.06. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36. The stock has a market cap of $74.73 billion, a PE ratio of 16.92 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, topping the consensus estimate of $5.91 by $0.40. The company had revenue of $25.01 billion for the quarter, compared to analysts' expectations of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is 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.

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.