Andra AP fonden Raises Stock Position in FedEx Corporation $FDX

Andra AP fonden increased its position in shares of FedEx Corporation (NYSE:FDX) by 55.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,318 shares of the shipping service provider’s stock after acquiring an additional 24,740 shares during the period. Andra AP fonden’s holdings in FedEx were worth $21,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FDX. First Nebraska Trust Co bought a new position in shares of FedEx in the first quarter worth approximately $10,675,000. OMERS ADMINISTRATION Corp lifted its position in FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock valued at $6,169,000 after purchasing an additional 8,868 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in FedEx by 48.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 63,855 shares of the shipping service provider’s stock worth $18,445,000 after buying an additional 20,940 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of FedEx in the 1st quarter worth $3,918,000. Finally, Focus Partners Advisor Solutions LLC increased its holdings in shares of FedEx by 39.5% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 12,926 shares of the shipping service provider’s stock worth $3,734,000 after buying an additional 3,661 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 0.4%

FedEx stock traded up $1.12 during mid-day trading on Tuesday, hitting $296.91. The company’s stock had a trading volume of 635,936 shares, compared to its average volume of 2,074,121. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock has a market cap of $70.27 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.62 and a beta of 1.32. The business has a 50 day moving average price of $318.30 and a 200-day moving average price of $343.09. FedEx Corporation has a 12 month low of $179.69 and a 12 month high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, analysts forecast that FedEx Corporation will post 17.55 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, September 14th. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

Insider Buying and Selling

In other FedEx news, Director Paul Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citizens Jmp assumed coverage on shares of FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective for the company. Evercore set a $350.00 target price on FedEx in a research note on Wednesday, September 9th. Jefferies Financial Group assumed coverage on FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target on the stock. TD Cowen dropped their price target on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Finally, Stifel Nicolaus cut their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $362.99.

About FedEx

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company’s offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.