State of Alaska Department of Revenue Sells 13,612 Shares of FedEx Co. (NYSE:FDX)

State of Alaska Department of Revenue reduced its position in FedEx Co. (NYSE:FDX) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,417 shares of the shipping service provider’s stock after selling 13,612 shares during the quarter. State of Alaska Department of Revenue’s holdings in FedEx were worth $11,088,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Fortitude Family Office LLC boosted its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 52 shares during the last quarter. Evermay Wealth Management LLC boosted 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 purchasing an additional 40 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in FedEx during the fourth quarter worth approximately $28,000. City Holding Co. bought a new stake in FedEx in the fourth quarter worth approximately $28,000. Finally, R Squared Ltd acquired a new position in FedEx in the fourth quarter valued at approximately $31,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FDX shares. BMO Capital Markets raised their price objective on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Bank of America lifted their price target on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Wells Fargo & Company increased their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Sanford C. Bernstein lowered 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. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

Insider Buying and Selling

In related news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy B. Lane bought 333 shares of FedEx stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the acquisition, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is currently owned by insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $258.74 on Friday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The company’s 50-day moving average is $276.41 and its 200 day moving average is $281.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market capitalization of $62.32 billion, a P/E 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 results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (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 company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter last year, the business posted $3.99 EPS. FedEx’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

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