Danske Bank A S Buys New Holdings in FedEx Corporation $FDX

Danske Bank A S purchased a new position in FedEx Corporation (NYSE:FDX) during the second quarter, HoldingsChannel reports. The fund purchased 212,331 shares of the shipping service provider’s stock, valued at approximately $66,487,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 207 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after buying an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of FedEx during the second quarter worth $586,000. Quantbot Technologies LP bought a new position in shares of FedEx during the second quarter worth $186,000. Finally, Jump Financial LLC purchased a new position in FedEx during the second quarter valued at $456,000. 84.47% of the stock is currently owned by institutional investors.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by insiders.

FedEx Trading Down 0.9%

FDX stock opened at $328.43 on Wednesday. FedEx Corporation has a twelve month low of $177.05 and a twelve month high of $345.36. The stock has a market capitalization of $77.70 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm’s fifty day simple moving average is $319.36 and its two-hundred day simple moving average is $351.63.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $23.26 billion during the quarter. As a group, analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FDX. Weiss Ratings downgraded shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. The Goldman Sachs Group dropped their price objective on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a report on Monday, June 1st. Jefferies Financial Group assumed coverage on FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective for the company. Citizens Jmp initiated coverage on FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 target price on the stock. Finally, Stephens upgraded FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Profile

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.