FedEx Co. (NYSE:FDX) Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 185.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,206 shares of the shipping service provider’s stock after acquiring an additional 7,930 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in FedEx were worth $3,088,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KRS Capital Management LLC raised its position in shares of FedEx by 4.1% during the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after buying an additional 41 shares during the last quarter. Zullo Investment Group Inc. raised its position in shares of FedEx by 0.7% during the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after buying an additional 42 shares during the last quarter. Toth Financial Advisory Corp raised its position in FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock worth $73,000 after purchasing an additional 44 shares in the last quarter. SVB Wealth LLC raised its position in FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock worth $456,000 after purchasing an additional 44 shares in the last quarter. Finally, Family Legacy Inc. raised its position in FedEx by 3.2% in the third quarter. Family Legacy Inc. now owns 1,439 shares of the shipping service provider’s stock worth $381,000 after purchasing an additional 45 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other FedEx news, Chairman Frederick W. Smith sold 113,400 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $274.30, for a total value of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at $3,978,953,009.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at $3,223,600.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,668 shares of company stock worth $37,758,773. Company insiders own 8.73% of the company’s stock.

FedEx Trading Down 0.7 %

FDX stock traded down $1.87 during midday trading on Wednesday, reaching $263.07. The company’s stock had a trading volume of 1,310,852 shares, compared to its average volume of 2,099,472. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The stock has a market cap of $64.74 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $257.89 and its 200-day simple moving average is $254.05.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same period last year, the firm earned $3.41 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts expect that FedEx Co. will post 17.67 EPS for the current year.

FedEx announced that its Board of Directors has approved a share repurchase program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a yield of 1.92%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

Analysts Set New Price Targets

Several research analysts recently issued reports on FDX shares. Bank Of America (Bofa) increased their price target on shares of FedEx from $330.00 to $334.00 in a research report on Wednesday, December 20th. BMO Capital Markets increased their price target on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Robert W. Baird increased their price target on shares of FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 11th. Finally, Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $301.33.

FedEx Company Profile

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.