Avanza Fonder AB Takes Position in FedEx Co. (NYSE:FDX)

Avanza Fonder AB purchased a new position in FedEx Co. (NYSE:FDX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,521 shares of the shipping service provider’s stock, valued at approximately $6,898,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of FedEx during the third quarter valued at $3,405,000. Czech National Bank boosted its position in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock valued at $12,564,000 after buying an additional 2,767 shares during the period. Wedmont Private Capital increased its position in shares of FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock worth $631,000 after acquiring an additional 91 shares during the period. Persium Advisors LLC bought a new stake in shares of FedEx during the fourth quarter valued at approximately $530,000. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of FedEx in the second quarter valued at approximately $9,226,000. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now owns 333 shares of the company’s stock, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FDX shares. Raymond James lifted their target price on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Susquehanna lowered their price objective on shares of FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Robert W. Baird cut their target price on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Stifel Nicolaus upped their price target on shares of FedEx from $321.00 to $368.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Bank of America boosted their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $325.61.

FedEx Stock Performance

NYSE FDX opened at $275.48 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The company has a market cap of $66.35 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The stock’s 50 day simple moving average is $283.82 and its 200-day simple moving average is $284.25.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.99 EPS. As a group, equities research analysts anticipate that FedEx Co. will post 19.2 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

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.