FedEx Corporation $FDX Shares Acquired by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in FedEx Corporation (NYSE:FDX) by 15.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 25,299 shares of the shipping service provider’s stock after purchasing an additional 3,475 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in FedEx were worth $7,922,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after acquiring an additional 382,848 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of FedEx by 6.6% during the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after purchasing an additional 318,293 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of FedEx by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after purchasing an additional 45,818 shares in the last quarter. Invesco Ltd. raised its position in shares of FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after purchasing an additional 108,426 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of FedEx during the 4th quarter worth approximately $859,085,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Seaport Research Partners started coverage on FedEx in a report on Wednesday, May 27th. They set a “buy” rating on the stock. Jefferies Financial Group initiated coverage on FedEx in a report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price target for the company. Wall Street Zen upgraded FedEx to a “hold” rating in a research report on Saturday. Stifel Nicolaus dropped their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group cut their target price on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

FedEx Stock Up 0.9%

FDX stock opened at $318.64 on Friday. The company has a 50 day moving average price of $319.48 and a two-hundred day moving average price of $350.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market capitalization of $75.39 billion, a P/E ratio of 17.21, a PEG ratio of 1.64 and a beta of 1.30. FedEx Corporation has a one year low of $176.00 and a one year high of $345.36.

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

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio is 26.36%.

FedEx Company 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.