Livforsakringsbolaget Skandia Omsesidigt Purchases 3,990 Shares of FedEx Co. (NYSE:FDX)

Livforsakringsbolaget Skandia Omsesidigt raised its position in FedEx Co. (NYSE:FDX) by 32.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,196 shares of the shipping service provider’s stock after purchasing an additional 3,990 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in FedEx were worth $4,430,000 as of its most recent SEC filing.

Several other institutional 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% during the second 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 last quarter. LRI Investments LLC boosted its holdings in shares of FedEx by 8.6% in the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the period. Ascent Wealth Partners LLC grew its stake in FedEx by 0.5% in the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares in the last quarter. Detalus Advisors LLC increased its holdings in FedEx by 2.4% during the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after purchasing an additional 37 shares during the period. Finally, Sachetta LLC raised its position in 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 purchasing an additional 37 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research reports. Citigroup started coverage on shares of FedEx in a research report on Wednesday. They issued a “buy” rating and a $301.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research report on Friday, September 20th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Raymond James lowered their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $314.17.

FedEx Stock Performance

FedEx stock opened at $264.36 on Friday. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The stock has a market cap of $64.59 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.17. The firm has a 50 day simple moving average of $281.08 and a 200-day simple moving average of $275.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). The business 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 revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company earned $4.55 EPS. On average, analysts expect that FedEx Co. will post 19.6 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

Insider Transactions at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares in the company, valued at approximately $3,797,974.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

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.