FedEx Co. (FDX) Position Increased by Nordea Investment Management AB
Nordea Investment Management AB boosted its stake in FedEx Co. (NYSE:FDX) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 979,986 shares of the shipping service provider’s stock after acquiring an additional 28,555 shares during the period. Nordea Investment Management AB owned 0.37% of FedEx worth $221,065,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FNY Managed Accounts LLC acquired a new stake in shares of FedEx during the first quarter worth $100,000. Salem Investment Counselors Inc. raised its holdings in shares of FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the period. Krilogy Financial LLC raised its holdings in shares of FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the period. Alexandria Capital LLC raised its holdings in shares of FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares during the period. Finally, Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx during the third quarter worth $132,000. 75.73% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Co. (NYSE:FDX) traded up $0.82 during trading hours on Tuesday, hitting $239.43. 487,901 shares of the stock traded hands, compared to its average volume of 1,474,094. FedEx Co. has a one year low of $182.89 and a one year high of $243.06. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. The company has a market cap of $64,551.20, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. During the same quarter last year, the business posted $2.90 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. equities analysts forecast that FedEx Co. will post 12.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, December 8th. FedEx’s dividend payout ratio is presently 18.87%.
In other FedEx news, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the sale, the insider now directly owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock valued at $9,024,637 over the last ninety days. Insiders own 8.45% of the company’s stock.
Several research firms have recently commented on FDX. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup upped their price target on shares of FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays restated an “overweight” rating and set a $270.00 price target (up previously from $230.00) on shares of FedEx in a research report on Thursday, November 30th. They noted that the move was a valuation call. Sanford C. Bernstein set a $212.00 price target on shares of FedEx and gave the stock a “hold” rating in a research report on Wednesday, November 15th. Finally, Goldman Sachs Group began coverage on shares of FedEx in a research report on Monday, November 13th. They set a “buy” rating and a $270.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. FedEx currently has a consensus rating of “Buy” and a consensus price target of $233.41.
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FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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