Andra AP fonden Sells 52,200 Shares of FedEx Co. (NYSE:FDX)

Andra AP fonden lessened its position in shares of FedEx Co. (NYSE:FDX) by 31.9% in the second quarter, Holdings Channel.com reports. The firm owned 111,400 shares of the shipping service provider’s stock after selling 52,200 shares during the period. Andra AP fonden’s holdings in FedEx were worth $33,402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortis Group Advisors LLC grew its holdings in shares of FedEx by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of FedEx during the 4th quarter worth approximately $25,000. Private Wealth Management Group LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $28,000. Sachetta LLC bought a new stake in shares of FedEx in the fourth quarter worth $32,000. Finally, Central Valley Advisors LLC acquired a new position in FedEx during the second quarter worth $39,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on FDX shares. Raymond James cut their price target on shares of FedEx from $325.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 24th. Morgan Stanley increased their price target on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group boosted their price target on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $313.96.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of FedEx 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 transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the transaction, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,944 shares of company stock valued at $9,882,355. Company insiders own 8.73% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $283.30 on Tuesday. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The firm’s 50-day simple moving average is $293.94 and its 200 day simple moving average is $272.59. The firm has a market cap of $69.71 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period last year, the firm earned $4.94 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, September 9th. FedEx’s dividend payout ratio is currently 32.04%.

FedEx 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.