FedEx Co. (NYSE:FDX) Shares Sold by State of Tennessee Treasury Department

State of Tennessee Treasury Department decreased its position in FedEx Co. (NYSE:FDXFree Report) by 19.8% during the 4th quarter, Holdings Channel reports. The firm owned 95,937 shares of the shipping service provider’s stock after selling 23,738 shares during the quarter. State of Tennessee Treasury Department’s holdings in FedEx were worth $24,269,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. KRS Capital Management LLC grew its holdings in FedEx by 4.1% in the fourth quarter. KRS Capital Management LLC now owns 1,041 shares of the shipping service provider’s stock valued at $263,000 after purchasing an additional 41 shares during the last quarter. Zullo Investment Group Inc. lifted its position in shares of FedEx by 0.7% in the fourth quarter. Zullo Investment Group Inc. now owns 5,721 shares of the shipping service provider’s stock valued at $1,447,000 after acquiring an additional 42 shares in the last quarter. Toth Financial Advisory Corp lifted its position in shares of FedEx by 18.0% in the fourth quarter. Toth Financial Advisory Corp now owns 288 shares of the shipping service provider’s stock valued at $73,000 after acquiring an additional 44 shares in the last quarter. SVB Wealth LLC lifted its position in shares of FedEx by 2.5% in the fourth quarter. SVB Wealth LLC now owns 1,801 shares of the shipping service provider’s stock valued at $456,000 after acquiring an additional 44 shares in the last quarter. Finally, Integrated Investment Consultants LLC lifted its position in shares of FedEx by 2.7% in the fourth quarter. Integrated Investment Consultants LLC now owns 1,727 shares of the shipping service provider’s stock valued at $437,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FDX. Jefferies Financial Group upped their price objective on FedEx from $265.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research report on Friday, March 22nd. UBS Group reduced their target price on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Stifel Nicolaus reduced their target price on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Evercore ISI increased their target price on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.92.

View Our Latest Stock Analysis on FedEx

Insiders Place Their Bets

In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the transaction, the chief executive officer now owns 11,147 shares of the company’s stock, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Guy M. Erwin II sold 2,749 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the completion of the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. Insiders have sold a total of 136,668 shares of company stock valued at $37,758,773 in the last quarter. Insiders own 8.73% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $253.70 on Tuesday. FedEx Co. has a fifty-two week low of $222.01 and a fifty-two week high of $291.27. The business has a 50 day moving average price of $260.83 and a two-hundred day moving average price of $256.56. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm has a market cap of $62.43 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion during the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the firm earned $3.41 EPS. FedEx’s quarterly revenue was down 2.1% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 17.76 earnings per share for the current fiscal year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.18%. This is an increase from FedEx’s previous quarterly dividend of $1.26. FedEx’s dividend payout ratio (DPR) is currently 29.07%.

FedEx announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

About FedEx

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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