Swedbank AB Boosts Position in FedEx Co. (NYSE:FDX)

Swedbank AB lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 0.4% in the third quarter, Holdings Channel.com reports. The fund owned 111,426 shares of the shipping service provider’s stock after purchasing an additional 403 shares during the period. Swedbank AB’s holdings in FedEx were worth $30,495,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC lifted its position in shares of FedEx by 0.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after purchasing an additional 34 shares during the period. LRI Investments LLC grew its holdings in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after acquiring an additional 36 shares during the period. Ascent Wealth Partners LLC raised its position in shares of FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC boosted its position in shares of FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC boosted its holdings in shares of FedEx by 29.1% during the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after buying an additional 37 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of FedEx from $275.00 to $300.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. Stephens reissued an “overweight” rating and set a $350.00 target price on shares of FedEx in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Finally, Stifel Nicolaus lowered their price objective on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Performance

Shares of NYSE FDX opened at $271.91 on Thursday. The stock has a market cap of $66.91 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.06 and a beta of 1.17. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a 50 day simple moving average of $280.25 and a two-hundred day simple moving average of $275.05. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm earned $4.55 EPS. As a group, analysts predict that FedEx Co. will post 19.6 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. FedEx’s payout ratio is currently 32.04%.

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.