Handelsbanken Fonder AB Decreases Position in FedEx Corporation $FDX

Handelsbanken Fonder AB decreased its position in FedEx Corporation (NYSE:FDX) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 103,898 shares of the shipping service provider’s stock after selling 6,217 shares during the period. Handelsbanken Fonder AB’s holdings in FedEx were worth $30,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Grey Fox Wealth Advisors LLC purchased a new position in FedEx in the 3rd quarter worth $27,000. Wealth Watch Advisors INC purchased a new position in FedEx in the 3rd quarter worth $28,000. Ameriflex Group Inc. raised its stake in FedEx by 103.3% in the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 63 shares during the last quarter. Ulland Investment Advisors LLC purchased a new position in FedEx in the 4th quarter worth $29,000. Finally, Tucker Asset Management LLC purchased a new position in FedEx in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $374.84 on Wednesday. The stock has a market capitalization of $89.44 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. FedEx Corporation has a 52 week low of $214.35 and a 52 week high of $404.03. The stock’s 50-day moving average price is $369.29 and its 200-day moving average price is $330.46. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. FedEx’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $4.51 EPS. As a group, equities analysts expect that FedEx Corporation will post 19.72 EPS for the current fiscal year.

Insider Activity at FedEx

In related news, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares of the company’s stock, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares in the company, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on FDX shares. Sanford C. Bernstein increased their price target on FedEx from $457.00 to $470.00 and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Citigroup increased their price target on FedEx from $327.00 to $401.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. The Goldman Sachs Group increased their price target on FedEx from $364.00 to $369.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Raymond James Financial raised their target price on FedEx from $305.00 to $410.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Finally, Weiss Ratings upgraded FedEx from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $398.04.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.