Livforsakringsbolaget Skandia Omsesidigt Increases Holdings in FedEx Co. (NYSE:FDX)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 185.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,206 shares of the shipping service provider’s stock after acquiring an additional 7,930 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in FedEx were worth $3,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in FedEx by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock valued at $35,254,000 after purchasing an additional 13,197 shares during the period. Trust Point Inc. purchased a new stake in FedEx in the fourth quarter valued at $282,000. Planned Solutions Inc. purchased a new stake in FedEx in the fourth quarter valued at $32,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of FedEx by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock valued at $157,660,000 after buying an additional 13,642 shares during the period. Finally, Skba Capital Management LLC raised its holdings in shares of FedEx by 0.3% in the 3rd quarter. Skba Capital Management LLC now owns 39,320 shares of the shipping service provider’s stock valued at $10,417,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of several research analyst reports. Raymond James cut their price objective on FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a report on Wednesday, December 20th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a report on Friday, March 22nd. Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Evercore ISI boosted their price objective on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Bank Of America (Bofa) boosted their price objective on FedEx from $330.00 to $334.00 in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.33.

Insider Activity at FedEx

In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FedEx news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the sale, the director now directly owns 7,865 shares of the company’s stock, valued at approximately $2,265,277.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the sale, the executive vice president now directly owns 6,294 shares of the company’s stock, valued at $1,735,192.86. The disclosure for this sale can be found here. Insiders sold a total of 136,668 shares of company stock valued at $37,758,773 in the last three months. 8.73% of the stock is currently owned by company insiders.

FedEx Stock Down 0.7 %

Shares of NYSE:FDX traded down $1.87 on Wednesday, hitting $263.07. 1,310,852 shares of the company’s stock were exchanged, compared to its average volume of 2,099,472. The firm’s 50-day moving average is $257.89 and its 200 day moving average is $254.05. The company has a market capitalization of $64.74 billion, a PE ratio of 15.28, a P/E/G ratio of 1.26 and a beta of 1.21. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.41 EPS. Sell-side analysts predict that FedEx Co. will post 17.67 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $1.26 dividend. The ex-dividend date was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.92%. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx declared that its Board of Directors has initiated a share repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

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.