KLP Kapitalforvaltning AS Makes New Investment in FedEx Co. (NYSE:FDX)

KLP Kapitalforvaltning AS purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 78,460 shares of the shipping service provider’s stock, valued at approximately $22,164,000.

Several other large investors have also recently modified their holdings of the stock. Umpqua Bank raised its holdings in FedEx by 6.4% in the fourth quarter. Umpqua Bank now owns 2,282 shares of the shipping service provider’s stock worth $634,000 after buying an additional 137 shares during the last quarter. American Century Companies Inc. increased its position in shares of FedEx by 1.0% during the fourth quarter. American Century Companies Inc. now owns 439,047 shares of the shipping service provider’s stock valued at $123,517,000 after acquiring an additional 4,421 shares in the last quarter. Plancorp LLC raised its holdings in FedEx by 3.4% in the 4th quarter. Plancorp LLC now owns 1,531 shares of the shipping service provider’s stock worth $431,000 after acquiring an additional 51 shares during the last quarter. Runnymede Capital Advisors Inc. bought a new position in FedEx in the 4th quarter valued at approximately $32,000. Finally, Mizuho Securities USA LLC boosted its stake in FedEx by 45.8% during the 4th quarter. Mizuho Securities USA LLC now owns 21,304 shares of the shipping service provider’s stock valued at $5,993,000 after purchasing an additional 6,690 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FDX shares. Deutsche Bank Aktiengesellschaft assumed coverage on FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Friday. JPMorgan Chase & Co. reduced their price target on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research note on Friday. Bank of America lowered their price objective on shares of FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus cut their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $301.67.

FedEx Trading Down 6.5 %

Shares of FDX stock opened at $230.25 on Friday. The stock has a fifty day simple moving average of $259.95 and a two-hundred day simple moving average of $272.49. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The firm has a market capitalization of $55.46 billion, a PE ratio of 14.68, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same period last year, the business posted $3.86 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.40%. FedEx’s payout ratio is 35.18%.

Insider Activity at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the transaction, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by corporate insiders.

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.