54,430 Shares in FedEx Corporation $FDX Purchased by Nykredit A S

Nykredit A S acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 54,430 shares of the shipping service provider’s stock, valued at approximately $17,044,000.

Other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management purchased a new position in FedEx during the first quarter worth approximately $25,000. Bayban purchased a new stake in FedEx in the 1st quarter valued at $26,000. Solstein Capital LLC acquired a new stake in shares of FedEx in the 2nd quarter worth $27,000. EFG International AG acquired a new stake in shares of FedEx in the 4th quarter worth $27,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of FedEx during the 3rd quarter worth $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other FedEx news, Director Paul Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup started coverage on shares of FedEx in a report on Wednesday, July 15th. They issued an “outperform” rating for the company. Stifel Nicolaus decreased their target price on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. BNP Paribas Exane dropped their price target on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Barclays cut their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Finally, Raymond James Financial set a $330.00 price objective on FedEx in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

FedEx Stock Performance

Shares of FDX stock opened at $322.11 on Friday. The stock has a fifty day moving average price of $319.36 and a 200 day moving average price of $349.10. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market cap of $76.23 billion, a PE ratio of 17.40, a P/E/G ratio of 1.72 and a beta of 1.32. FedEx Corporation has a 1 year low of $177.65 and a 1 year high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Sell-side analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a dividend of $1.22 per share. The ex-dividend date is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s payout ratio is presently 26.36%.

FedEx Company 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.