FedEx Co. (NYSE:FDX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,459 shares of the shipping service provider’s stock after selling 1,048 shares during the quarter. Kentucky Retirement Systems’ holdings in FedEx were worth $5,059,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sentry LLC acquired a new position in FedEx in the 4th quarter valued at about $1,811,748,000. Norges Bank purchased a new position in shares of FedEx in the 4th quarter valued at about $700,291,000. Capital International Investors boosted its stake in shares of FedEx by 32.5% in the 1st quarter. Capital International Investors now owns 8,831,084 shares of the shipping service provider’s stock valued at $2,558,718,000 after buying an additional 2,163,622 shares during the period. Vanguard Group Inc. boosted its stake in shares of FedEx by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 19,868,165 shares of the shipping service provider’s stock valued at $5,756,602,000 after buying an additional 1,056,061 shares during the period. Finally, Putnam Investments LLC boosted its stake in shares of FedEx by 38.1% in the 4th quarter. Putnam Investments LLC now owns 2,893,781 shares of the shipping service provider’s stock valued at $732,040,000 after buying an additional 798,084 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

FDX stock traded up $1.55 on Friday, reaching $300.14. 1,200,882 shares of the company’s stock were exchanged, compared to its average volume of 1,737,460. The stock has a fifty day moving average of $273.07 and a 200-day moving average of $262.44. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The firm has a market cap of $73.32 billion, a PE ratio of 17.42, a P/E/G ratio of 1.08 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The firm had revenue of $22.11 billion for the quarter, compared to analyst estimates of $22.04 billion. During the same quarter in the prior year, the company posted $4.94 earnings per share. FedEx’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 24th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Monday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio is currently 32.04%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price objective on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. Oppenheimer restated a “market perform” rating on shares of FedEx in a research note on Wednesday, June 26th. UBS Group decreased their target price on FedEx from $340.00 to $333.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Wells Fargo & Company boosted their target price on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. Finally, Argus boosted their target price on FedEx from $325.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $314.00.

Insider Buying and Selling

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now owns 59,884 shares in the company, valued at $17,634,640.32. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock valued at $9,882,355 over the last quarter. Company insiders own 8.73% of the company’s stock.

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.