Kentucky Retirement Systems Insurance Trust Fund Buys 3,867 Shares of FedEx Co. (NYSE:FDX)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in FedEx Co. (NYSE:FDX) by 57.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,540 shares of the shipping service provider’s stock after buying 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.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC bought a new position in FedEx during the 3rd quarter valued at about $97,000. Creative Planning boosted its stake in shares of FedEx by 15.7% during the third quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock valued at $22,237,000 after purchasing an additional 11,081 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of FedEx by 112.0% during the third quarter. Blue Trust Inc. now owns 1,802 shares of the shipping service provider’s stock valued at $540,000 after purchasing an additional 952 shares in the last quarter. OLD National Bancorp IN boosted its stake in shares of FedEx by 2.1% during the third quarter. OLD National Bancorp IN now owns 3,930 shares of the shipping service provider’s stock valued at $1,076,000 after purchasing an additional 80 shares in the last quarter. Finally, Vest Financial LLC bought a new position in shares of FedEx during the third quarter valued at approximately $336,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FDX. Wells Fargo & Company increased their price objective on shares of FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Stifel Nicolaus dropped their price objective on shares of FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Loop Capital downgraded shares of FedEx from a “buy” rating to a “hold” rating and dropped their price objective for the company from $365.00 to $283.00 in a research note on Monday, February 3rd. Citigroup increased their price objective on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Buying and Selling at FedEx

In other FedEx news, EVP John W. Dietrich bought 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following 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 trade represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

FedEx Trading Up 1.8 %

Shares of FDX stock opened at $267.83 on Tuesday. The firm’s 50 day moving average price is $272.40 and its two-hundred day moving average price is $278.92. FedEx Co. has a fifty-two week low of $234.45 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. The stock has a market cap of $64.51 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.99 earnings per share. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

FedEx 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.