Livforsakringsbolaget Skandia Omsesidigt Purchases 1,800 Shares of FedEx Corporation $FDX

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of FedEx Corporation (NYSE:FDX) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,496 shares of the shipping service provider’s stock after buying an additional 1,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in FedEx were worth $7,656,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bayban acquired a new stake in shares of FedEx in the first quarter valued at approximately $26,000. EFG International AG bought a new stake in shares of FedEx in the fourth quarter worth $27,000. Wealth Watch Advisors INC acquired a new position in FedEx during the third quarter worth $28,000. Ulland Investment Advisors LLC acquired a new position in FedEx during the fourth quarter worth $29,000. Finally, Tucker Asset Management LLC bought a new position in FedEx in the fourth quarter valued at $29,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

NYSE FDX opened at $313.22 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average price is $345.84 and its two-hundred day moving average price is $349.19. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The firm has a market capitalization of $74.74 billion, a P/E ratio of 16.92 and a beta of 1.29.

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

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued 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 of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio is presently 26.36%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Raymond James Financial lowered their price target on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 24th. Seaport Research Partners began coverage on shares of FedEx in a research note on Wednesday, May 27th. They set a “buy” rating for the company. Evercore set a $165.00 price objective on FedEx in a report on Friday, June 26th. TD Cowen lowered their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Finally, BNP Paribas Exane dropped their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $349.60.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s 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 sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

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.