State of Tennessee Department of Treasury Sells 3,955 Shares of FedEx Co. (NYSE:FDX)

State of Tennessee Department of Treasury lowered its stake in FedEx Co. (NYSE:FDX - Free Report) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,955 shares of the shipping service provider's stock after selling 3,955 shares during the period. State of Tennessee Department of Treasury's holdings in FedEx were worth $25,870,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of FedEx during the 4th quarter valued at $807,352,000. Raymond James Financial Inc. acquired a new stake in shares of FedEx during the fourth quarter valued at about $234,028,000. Dodge & Cox grew its holdings in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of FedEx in the fourth quarter valued at approximately $145,733,000. Finally, ACR Alpine Capital Research LLC raised its holdings in FedEx by 62.9% in the 4th quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock valued at $239,909,000 after buying an additional 329,170 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.87% of the company's stock.

FedEx Stock Down 2.0 %

FDX traded down $4.24 during trading on Friday, hitting $211.45. 1,328,116 shares of the company's stock were exchanged, compared to its average volume of 1,773,140. The stock has a market cap of $50.66 billion, a P/E ratio of 13.48, a PEG ratio of 1.11 and a beta of 1.24. The business's 50 day moving average is $234.59 and its two-hundred day moving average is $262.17. FedEx Co. has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. 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 announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.86 EPS. As a group, equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is currently 34.63%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. BMO Capital Markets decreased their price target on shares of FedEx from $330.00 to $275.00 and set a "market perform" rating for the company in a research report on Friday, March 21st. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and decreased their price objective for the company from $300.00 to $275.00 in a report on Monday, March 24th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Bank of America decreased their price target on FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, Cfra Research raised FedEx to a "hold" rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $297.71.

About FedEx

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.