Swedbank AB Has $44.45 Million Holdings in FedEx Corporation $FDX

Swedbank AB trimmed its holdings in FedEx Corporation (NYSE:FDX) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,792 shares of the shipping service provider’s stock after selling 1,996 shares during the quarter. Swedbank AB’s holdings in FedEx were worth $44,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox boosted its holdings in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares during the period. State Street Corp increased its holdings in shares of FedEx by 4.2% during the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after purchasing an additional 382,848 shares during the period. Franklin Resources Inc. increased its holdings 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 during the period. Geode Capital Management LLC raised its position in shares of FedEx by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after buying an additional 45,818 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of FedEx by 3.1% during the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after buying an additional 108,426 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FDX shares. TD Cowen decreased their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Seaport Research Partners started coverage on FedEx in a report on Wednesday, May 27th. They issued a “buy” rating for the company. Morgan Stanley raised their price objective on FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, March 20th. Argus lifted their price objective on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Finally, Raymond James Financial lowered their price objective on FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 24th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned 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 a consensus target price of $349.60.

FedEx Stock Performance

NYSE FDX opened at $310.13 on Thursday. The stock has a market cap of $74.00 billion, a P/E ratio of 16.75 and a beta of 1.29. The company’s 50-day simple moving average is $351.69 and its 200 day simple moving average is $348.63. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, topping analysts’ consensus estimates of $5.91 by $0.40. The firm had revenue of $25.01 billion during the quarter, compared to analysts’ expectations of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS.

FedEx Cuts Dividend

The business 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. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is 26.36%.

Insider Buying and Selling at FedEx

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 53,146 shares of company stock worth $19,235,438 over the last three months. 0.53% of the stock is currently owned by insiders.

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.