State of Alaska Department of Revenue Trims Stake in FedEx Co. (NYSE:FDX)

State of Alaska Department of Revenue decreased its position in FedEx Co. (NYSE:FDX - Free Report) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,029 shares of the shipping service provider's stock after selling 7,875 shares during the quarter. State of Alaska Department of Revenue's holdings in FedEx were worth $14,512,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of FedEx during the first quarter valued at $1,667,000. Allegheny Financial Group LTD bought a new position in shares of FedEx during the first quarter valued at $203,000. Hilltop National Bank bought a new position in shares of FedEx during the first quarter valued at $476,000. Csenge Advisory Group boosted its position in shares of FedEx by 14.9% during the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider's stock valued at $666,000 after buying an additional 298 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of FedEx by 6.4% during the third quarter. Czech National Bank now owns 45,909 shares of the shipping service provider's stock valued at $12,564,000 after buying an additional 2,767 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Loop Capital dropped their target price on FedEx from $317.00 to $288.00 and set a "hold" rating on the stock in a research report on Monday, September 23rd. The Goldman Sachs Group dropped their target price on FedEx from $333.00 to $332.00 in a research report on Friday, September 20th. Susquehanna dropped their target price on FedEx from $345.00 to $330.00 and set a "positive" rating on the stock in a research report on Friday, September 20th. UBS Group dropped their target price on FedEx from $333.00 to $311.00 and set a "buy" rating on the stock in a research report on Friday, September 20th. Finally, Morgan Stanley downgraded FedEx from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $215.00 to $200.00 in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.17.

FedEx Trading Down 0.3 %

Shares of FedEx stock traded down $0.75 on Friday, reaching $272.12. The company had a trading volume of 835,534 shares, compared to its average volume of 1,523,120. The firm has a market cap of $66.48 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The firm's 50-day moving average price is $278.83 and its two-hundred day moving average price is $274.84. FedEx Co. has a 1 year low of $224.69 and a 1 year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts' consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion during the quarter, compared to analysts' expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx's revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.55 EPS. As a group, research analysts predict that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, September 9th. FedEx's dividend payout ratio (DPR) is 34.05%.

FedEx Company Profile

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.