SEB Asset Management AB Takes Position in FedEx Corporation $FDX

SEB Asset Management AB purchased a new stake in shares of FedEx Corporation (NYSE:FDX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 73,118 shares of the shipping service provider’s stock, valued at approximately $26,043,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of FedEx in the fourth quarter worth $859,085,000. Boston Partners purchased a new stake in FedEx during the 3rd quarter valued at $468,195,000. AQR Capital Management LLC boosted its position in FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after buying an additional 1,718,278 shares during the period. Waddell & Associates LLC grew its holdings in FedEx by 164.0% in the 4th quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock worth $343,206,000 after acquiring an additional 738,122 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in FedEx by 3,211.5% in the 3rd quarter. Two Sigma Investments LP now owns 549,306 shares of the shipping service provider’s stock worth $129,532,000 after acquiring an additional 532,718 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America upped their price objective 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. Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein set a $397.00 price target on FedEx in a report on Wednesday, June 24th. TD Cowen lowered their price target on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Finally, Citigroup assumed coverage on FedEx in a report on Wednesday. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

FedEx Stock Up 0.1%

Shares of NYSE FDX opened at $313.17 on Monday. The firm has a fifty day simple moving average of $342.12 and a two-hundred day simple moving average of $349.62. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $74.72 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.91 by $0.40. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $25.01 billion for the quarter, compared to analyst estimates of $24.04 billion. During the same quarter in the previous year, the firm posted $6.07 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Equities analysts expect that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred 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 directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

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.