Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Holdings in FedEx Co. (NYSE:FDX)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in shares of FedEx Co. (NYSE:FDX) by 18.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,800 shares of the shipping service provider’s stock after selling 400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in FedEx were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after buying an additional 67,502 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of FedEx by 0.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after buying an additional 11,100 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of FedEx by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after purchasing an additional 13,093 shares during the period. Finally, Sentry LLC raised its stake in shares of FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after purchasing an additional 5,404 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

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

FedEx Price Performance

FDX opened at $256.09 on Thursday. The stock has a 50-day moving average price of $269.38 and a 200-day moving average price of $277.65. FedEx Co. has a 12-month low of $239.07 and a 12-month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $61.68 billion, a P/E ratio of 16.32, a PEG ratio of 1.11 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.99 EPS. Equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

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 issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Piper Sandler lowered FedEx to a “neutral” rating in a research note on Monday, February 3rd. Stephens decreased their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their price objective on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

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.