Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 57.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,540 shares of the shipping service provider's stock after purchasing an additional 3,867 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in FedEx were worth $2,965,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of the company. Key Financial Inc boosted its holdings in FedEx by 30.3% in the 4th quarter. Key Financial Inc now owns 254 shares of the shipping service provider's stock valued at $71,000 after purchasing an additional 59 shares during the last quarter. Cardinal Capital Management lifted its position in FedEx by 0.3% in the fourth quarter. Cardinal Capital Management now owns 16,473 shares of the shipping service provider's stock valued at $4,657,000 after buying an additional 54 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of FedEx in the 4th quarter valued at approximately $86,000. Atria Wealth Solutions Inc. lifted its holdings in shares of FedEx by 8.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 13,039 shares of the shipping service provider's stock worth $3,681,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Pinnbrook Capital Management LP purchased a new position in shares of FedEx during the 4th quarter worth approximately $4,008,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Price Performance
Shares of FDX traded down $14.49 during trading hours on Friday, reaching $253.97. 4,329,771 shares of the company traded hands, compared to its average volume of 1,697,695. FedEx Co. has a fifty-two week low of $239.07 and a fifty-two week high of $313.84. The stock has a market capitalization of $61.17 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18. The stock has a fifty day simple moving average of $270.75 and a 200 day simple moving average of $278.18. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the company earned $3.99 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.
FedEx Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. FedEx's dividend payout ratio is currently 35.18%.
Insider Activity
In other FedEx news, EVP John W. Dietrich purchased 1,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. The trade was a 12.40 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction on Thursday, December 26th. The shares were bought at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the purchase, the director now directly owns 333 shares in the company, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on FDX. Wells Fargo & Company raised their target price on FedEx from $305.00 to $320.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. Stifel Nicolaus decreased their target price on FedEx from $368.00 to $364.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. BMO Capital Markets increased their price target on FedEx from $300.00 to $330.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. StockNews.com raised shares of FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. Finally, Stephens decreased their price target on shares of FedEx from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, FedEx presently has an average rating of "Moderate Buy" and a consensus price target of $321.87.
Read Our Latest Report on FDX
About FedEx
(
Free Report)
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.
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