Swedbank AB Raises Holdings in FedEx Co. (NYSE:FDX)

Swedbank AB raised its stake in shares of FedEx Co. (NYSE:FDX) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,426 shares of the shipping service provider’s stock after acquiring an additional 403 shares during the period. Swedbank AB’s holdings in FedEx were worth $30,495,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC increased its holdings in FedEx by 139.7% during the 3rd quarter. Penserra Capital Management LLC now owns 2,567 shares of the shipping service provider’s stock worth $701,000 after purchasing an additional 1,496 shares during the period. KKM Financial LLC lifted its position in shares of FedEx by 6.4% during the 3rd quarter. KKM Financial LLC now owns 9,228 shares of the shipping service provider’s stock worth $2,526,000 after buying an additional 559 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in FedEx by 9.4% in the third quarter. Kingsview Wealth Management LLC now owns 3,014 shares of the shipping service provider’s stock valued at $825,000 after acquiring an additional 259 shares in the last quarter. Cerity Partners LLC boosted its position in shares of FedEx by 39.0% in the 3rd quarter. Cerity Partners LLC now owns 60,345 shares of the shipping service provider’s stock valued at $16,538,000 after purchasing an additional 16,931 shares during the period. Finally, Great Valley Advisor Group Inc. grew its position in shares of FedEx by 0.5% during the third quarter. Great Valley Advisor Group Inc. now owns 25,325 shares of the shipping service provider’s stock worth $6,931,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 1.6 %

Shares of NYSE FDX opened at $304.86 on Tuesday. FedEx Co. has a 12-month low of $234.45 and a 12-month high of $313.84. The stock has a fifty day moving average price of $276.59 and a 200 day moving average price of $277.98. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market cap of $74.48 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.25 and a beta of 1.17.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. During the same period in the previous year, the business posted $4.55 earnings per share. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts anticipate that FedEx Co. will post 19.59 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.81%. FedEx’s dividend payout ratio (DPR) is presently 34.05%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bernstein Bank boosted their price target on FedEx from $305.00 to $337.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Barclays boosted their price objective on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Stifel Nicolaus lowered their target price on FedEx from $327.00 to $321.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Bank of America dropped their price objective on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group cut their target price on shares of FedEx from $333.00 to $332.00 in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $316.04.

About FedEx

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.