State of Alaska Department of Revenue Lowers Position in FedEx Co. (NYSE:FDX)

State of Alaska Department of Revenue trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 25.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 39,417 shares of the shipping service provider’s stock after selling 13,612 shares during the period. State of Alaska Department of Revenue’s holdings in FedEx were worth $11,088,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. IVC Wealth Advisors LLC grew its holdings in shares of FedEx by 2.0% during the third quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after purchasing an additional 38 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in FedEx by 3.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC grew its stake in FedEx by 4.0% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock worth $279,000 after buying an additional 39 shares in the last quarter. Buckley Wealth Management LLC increased its holdings in shares of FedEx by 1.0% in the 3rd quarter. Buckley Wealth Management LLC now owns 3,975 shares of the shipping service provider’s stock worth $1,088,000 after buying an additional 40 shares during the last quarter. Finally, Evermay Wealth Management LLC raised its position in shares of FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FDX. UBS Group increased their target price on FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stephens reduced their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. TD Cowen increased their price target on shares of FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.87.

Insiders Place Their Bets

In related news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

FedEx Stock Up 2.5 %

Shares of NYSE FDX opened at $258.74 on Friday. The firm has a fifty day simple moving average of $276.41 and a two-hundred day simple moving average of $281.02. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $62.32 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same period last year, the business posted $3.99 earnings per share. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were paid a $1.38 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.13%. FedEx’s payout ratio is 35.18%.

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.