Handelsbanken Fonder AB Sells 6,217 Shares of FedEx Corporation $FDX

Handelsbanken Fonder AB lowered its position in FedEx Corporation (NYSE:FDX - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,898 shares of the shipping service provider's stock after selling 6,217 shares during the quarter. Handelsbanken Fonder AB's holdings in FedEx were worth $30,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC grew its stake in FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider's stock worth $183,000 after purchasing an additional 31 shares in the last quarter. Legacy Bridge LLC grew its stake in FedEx by 33.0% in the fourth quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider's stock worth $38,000 after purchasing an additional 33 shares in the last quarter. True Wealth Design LLC grew its stake in FedEx by 8.2% in the fourth quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider's stock worth $133,000 after purchasing an additional 35 shares in the last quarter. ORG Partners LLC grew its stake in FedEx by 50.0% in the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after purchasing an additional 35 shares in the last quarter. Finally, Moneco Advisors LLC grew its stake in FedEx by 3.9% in the fourth quarter. Moneco Advisors LLC now owns 968 shares of the shipping service provider's stock worth $280,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling

In other news, EVP Kawal Preet sold 4,900 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares in the company, valued at approximately $4,029,499.17. This represents a 30.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction on 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 owned 19,403 shares of the company's stock, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last three months. Corporate insiders own 0.53% of the company's stock.

FedEx Stock Up 1.4%

FedEx stock opened at $374.84 on Wednesday. The business has a fifty day moving average of $369.29 and a two-hundred day moving average of $330.46. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The firm has a market cap of $89.44 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.40 and a beta of 1.29. FedEx Corporation has a twelve month low of $214.35 and a twelve month high of $404.03.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping analysts' consensus estimates of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.FedEx's revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.51 earnings per share. On average, analysts forecast that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on FDX shares. Susquehanna increased their price objective on FedEx from $410.00 to $455.00 and gave the stock a "positive" rating in a research note on Friday, March 20th. TD Cowen increased their price objective on FedEx from $383.00 to $426.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Argus increased their price objective on FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Monday, April 6th. Jefferies Financial Group increased their price objective on FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Finally, Truist Financial increased their price objective on FedEx from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $398.04.

FedEx Profile

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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