SEB Asset Management AB Takes $26.04 Million Position in FedEx Corporation $FDX

SEB Asset Management AB purchased a new position in shares of FedEx Corporation (NYSE:FDX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 73,118 shares of the shipping service provider’s stock, valued at approximately $26,043,000.

Other institutional investors also recently modified their holdings of the company. Bayban acquired a new position in FedEx during the 1st quarter worth about $26,000. EFG International AG acquired a new stake in shares of FedEx in the fourth quarter valued at about $27,000. Wealth Watch Advisors INC acquired a new stake in shares of FedEx in the third quarter valued at about $28,000. Ulland Investment Advisors LLC bought a new position in shares of FedEx during the fourth quarter worth about $29,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx in the fourth quarter worth approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $313.17 on Monday. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. The business has a fifty day moving average price of $342.12 and a 200-day moving average price of $349.62. 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 firm has a market capitalization of $74.72 billion, a P/E ratio of 16.92, a PEG ratio of 1.61 and a beta of 1.29.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $25.01 billion during the quarter, compared to analyst estimates of $24.04 billion. During the same quarter in the previous year, the firm earned $6.07 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. As a group, equities research analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FDX shares. BMO Capital Markets restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Citizens Jmp started coverage on FedEx in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target for the company. Stephens raised shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group cut their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $350.54.

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.