Forsta AP Fonden Sells 5,100 Shares of FedEx Co. (NYSE:FDX)

Forsta AP Fonden lessened its stake in shares of FedEx Co. (NYSE:FDXGet Rating) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the shipping service provider’s stock after selling 5,100 shares during the quarter. Forsta AP Fonden’s holdings in FedEx were worth $13,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Graypoint LLC raised its stake in FedEx by 16.0% in the 1st quarter. Graypoint LLC now owns 1,897 shares of the shipping service provider’s stock worth $439,000 after acquiring an additional 261 shares during the last quarter. Value Partners Investments Inc. grew its position in shares of FedEx by 21.5% during the 1st quarter. Value Partners Investments Inc. now owns 306,203 shares of the shipping service provider’s stock valued at $70,826,000 after acquiring an additional 54,116 shares during the period. Veriti Management LLC grew its position in shares of FedEx by 22.5% during the 1st quarter. Veriti Management LLC now owns 3,343 shares of the shipping service provider’s stock valued at $774,000 after acquiring an additional 614 shares during the period. Kestra Advisory Services LLC grew its position in shares of FedEx by 16.2% during the 1st quarter. Kestra Advisory Services LLC now owns 30,207 shares of the shipping service provider’s stock valued at $6,990,000 after acquiring an additional 4,220 shares during the period. Finally, Garrett Investment Advisors LLC grew its position in shares of FedEx by 27.2% during the 1st quarter. Garrett Investment Advisors LLC now owns 1,510 shares of the shipping service provider’s stock valued at $349,000 after acquiring an additional 323 shares during the period. Institutional investors own 79.92% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the completion of the transaction, the executive vice president now owns 54,916 shares in the company, valued at $12,664,178.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, EVP Robert B. Carter sold 12,310 shares of the company’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the completion of the transaction, the executive vice president now owns 54,916 shares in the company, valued at $12,664,178.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy B. Lane acquired 607 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was bought at an average price of $228.12 per share, with a total value of $138,468.84. Following the purchase, the director now directly owns 686 shares of the company’s stock, valued at $156,490.32. The disclosure for this purchase can be found here. Insiders sold 37,575 shares of company stock worth $8,628,768 over the last 90 days. Corporate insiders own 8.16% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $234.89 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average price of $226.31 and a 200 day moving average price of $221.90. The company has a market cap of $61.04 billion, a P/E ratio of 16.43, a PEG ratio of 0.85 and a beta of 1.19. FedEx Co. has a 12 month low of $192.82 and a 12 month high of $282.88.

FedEx (NYSE:FDXGet Rating) last issued its earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing analysts’ consensus estimates of $6.91 by ($0.04). The firm had revenue of $24.39 billion for the quarter, compared to analyst estimates of $24.28 billion. FedEx had a return on equity of 22.29% and a net margin of 4.09%. During the same quarter in the previous year, the firm posted $5.01 EPS. Sell-side analysts predict that FedEx Co. will post 23.16 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Monday, June 27th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Friday, June 24th. This is an increase from FedEx’s previous quarterly dividend of $0.75. FedEx’s dividend payout ratio is currently 32.17%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FDX shares. Wells Fargo & Company raised their target price on FedEx from $277.00 to $282.00 and gave the company an “overweight” rating in a research report on Friday, June 24th. Deutsche Bank Aktiengesellschaft set a $320.00 target price on FedEx in a research report on Thursday, June 30th. The Goldman Sachs Group lowered their price objective on FedEx from $331.00 to $291.00 and set a “buy” rating on the stock in a report on Tuesday, June 7th. Stephens lifted their price objective on FedEx from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, June 24th. Finally, BMO Capital Markets lifted their price objective on FedEx from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Thursday, June 30th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $297.50.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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