Arizona State Retirement System lessened its stake in shares of FedEx Co. (NYSE:FDX) by 17.1% in the fourth quarter, Holdings Channel reports. The fund owned 67,400 shares of the shipping service provider’s stock after selling 13,920 shares during the quarter. Arizona State Retirement System’s holdings in FedEx were worth $10,874,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Elite Wealth Management Inc. lifted its holdings in shares of FedEx by 1.9% in the fourth quarter. Elite Wealth Management Inc. now owns 3,191 shares of the shipping service provider’s stock valued at $515,000 after purchasing an additional 61 shares in the last quarter. Legacy Financial Advisors Inc. lifted its holdings in shares of FedEx by 17.5% in the fourth quarter. Legacy Financial Advisors Inc. now owns 423 shares of the shipping service provider’s stock valued at $68,000 after purchasing an additional 63 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of FedEx by 2.7% in the third quarter. Rehmann Capital Advisory Group now owns 2,423 shares of the shipping service provider’s stock valued at $583,000 after purchasing an additional 64 shares in the last quarter. Central Bank & Trust Co. lifted its holdings in shares of FedEx by 0.9% in the fourth quarter. Central Bank & Trust Co. now owns 8,402 shares of the shipping service provider’s stock valued at $1,355,000 after purchasing an additional 74 shares in the last quarter. Finally, KCS Wealth Advisory lifted its holdings in shares of FedEx by 1.8% in the fourth quarter. KCS Wealth Advisory now owns 5,587 shares of the shipping service provider’s stock valued at $901,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 72.45% of the company’s stock.
Get FedEx alerts:NYSE FDX opened at $177.57 on Friday. FedEx Co. has a 1-year low of $150.94 and a 1-year high of $267.17. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.36 and a current ratio of 1.42. The firm has a market capitalization of $46.33 billion, a PE ratio of 11.60, a P/E/G ratio of 0.85 and a beta of 1.63.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.02). The business had revenue of $17.82 billion for the quarter, compared to analyst estimates of $17.71 billion. FedEx had a return on equity of 24.11% and a net margin of 7.23%. During the same period in the previous year, the company earned $3.18 earnings per share. On average, sell-side analysts predict that FedEx Co. will post 15.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Friday, December 7th. FedEx’s payout ratio is 16.98%.
A number of analysts have recently issued reports on FDX shares. Daiwa Capital Markets set a $190.00 target price on FedEx and gave the company a “buy” rating in a report on Thursday, December 20th. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a report on Monday, December 3rd. BMO Capital Markets dropped their price target on shares of FedEx to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 19th. They noted that the move was a valuation call. ValuEngine raised shares of FedEx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 26th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $233.00 price target on shares of FedEx in a research note on Monday, December 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $237.75.
In other FedEx news, Director David P. Steiner bought 7,000 shares of the stock in a transaction on Wednesday, January 2nd. The shares were purchased at an average cost of $162.92 per share, with a total value of $1,140,440.00. Following the completion of the transaction, the director now directly owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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