Handelsbanken Fonder AB Has $22.70 Million Stock Position in FedEx Co. (NYSE:FDX)

Handelsbanken Fonder AB grew its stake in shares of FedEx Co. (NYSE:FDX) by 31.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,749 shares of the shipping service provider’s stock after purchasing an additional 21,495 shares during the quarter. Handelsbanken Fonder AB’s holdings in FedEx were worth $22,704,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. boosted its stake in FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Rakuten Securities Inc. bought a new stake in FedEx in the 4th quarter valued at $30,000. Tennessee Valley Asset Management Partners bought a new stake in FedEx in the 4th quarter valued at $31,000. Planned Solutions Inc. bought a new stake in FedEx in the 4th quarter valued at $32,000. Finally, Valley National Advisers Inc. boosted its stake in FedEx by 123.3% in the 4th quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. The Goldman Sachs Group upped their target price on FedEx from $291.00 to $324.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays upped their target price on FedEx from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Robert W. Baird upped their target price on FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Stifel Nicolaus dropped their price objective on FedEx from $306.00 to $303.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $301.33.

FedEx Trading Up 1.2 %

Shares of FedEx stock opened at $270.15 on Tuesday. 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 Co. has a 52 week low of $213.80 and a 52 week high of $291.27. The stock has a 50 day moving average price of $259.74 and a two-hundred day moving average price of $254.18. The stock has a market capitalization of $66.48 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the firm posted $3.41 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a dividend of $1.26 per share. The ex-dividend date was Friday, March 8th. This represents a $5.04 annualized dividend and a dividend yield of 1.87%. FedEx’s payout ratio is 29.07%.

FedEx announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at FedEx

In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Frederick W. Smith sold 113,400 shares of FedEx stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the transaction, the chairman now owns 14,505,844 shares of the company’s stock, valued at $3,978,953,009.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total value of $794,763.39. Following the transaction, the vice president now directly owns 486 shares in the company, valued at approximately $140,507.46. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 over the last 90 days. Insiders own 8.73% 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.