Nykredit A S Acquires New Position in FedEx Corporation $FDX

Nykredit A S purchased a new position in shares of FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 54,430 shares of the shipping service provider’s stock, valued at approximately $17,044,000.

Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new position in FedEx during the 1st quarter worth approximately $25,000. Bayban purchased a new position in shares of FedEx during the 1st quarter valued at approximately $26,000. Solstein Capital LLC purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $27,000. Cedar Mountain Advisors LLC increased its holdings in shares of FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares in the last quarter. Finally, EFG International AG acquired a new stake in FedEx in the 4th quarter valued at $27,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of FDX stock traded down $6.03 during mid-day trading on Tuesday, reaching $316.49. The stock had a trading volume of 369,025 shares, compared to its average volume of 2,103,963. FedEx Corporation has a 12-month low of $177.86 and a 12-month high of $345.36. The company has a market cap of $74.90 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.71 and a beta of 1.32. The business has a 50-day simple moving average of $319.29 and a 200 day simple moving average of $348.55. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

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. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. On average, sell-side analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be given a $1.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Analysts Set New Price Targets

A number of research firms recently issued reports on FDX. Bank of America lifted their price target on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Wall Street Zen upgraded FedEx to a “hold” rating in a report on Saturday, August 8th. TD Cowen reduced their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. The Goldman Sachs Group reduced their price objective on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, Wells Fargo & Company cut their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $348.32.

Insider Activity at FedEx

In related news, Director Paul Walsh sold 5,042 shares of the stock in a transaction on 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 sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by insiders.

About FedEx

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.