FedEx Co. (NYSE:FDX) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 34.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 165,612 shares of the shipping service provider’s stock after selling 85,257 shares during the quarter. Nordea Investment Management AB’s holdings in FedEx were worth $46,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in FedEx during the 3rd quarter valued at approximately $31,000. Abound Wealth Management raised its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after buying an additional 95 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of FedEx during the third quarter worth $47,000. Finally, Sachetta LLC grew its holdings in shares of FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Up 0.5 %

Shares of FDX stock opened at $275.31 on Wednesday. The stock’s fifty day moving average is $283.84 and its two-hundred day moving average is $284.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The firm has a market capitalization of $67.26 billion, a P/E ratio of 16.98, a PEG ratio of 1.18 and a beta of 1.18. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.99 earnings per share. Research analysts expect that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s payout ratio is currently 34.05%.

Analysts Set New Price Targets

A number of brokerages have commented on FDX. Morgan Stanley cut FedEx from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $215.00 to $200.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. upped their target price on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus lifted their price objective on shares of FedEx from $321.00 to $368.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Loop Capital upgraded shares of FedEx from a “hold” rating to a “buy” rating and increased their price objective for the stock from $288.00 to $365.00 in a research note on Friday, December 20th. Finally, Evercore ISI decreased their target price on shares of FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.96.

Insiders Place Their Bets

In other FedEx news, Director Amy B. Lane bought 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.87% of the stock is owned by insiders.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.