FedEx Co. (NYSE:FDX) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 26.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,610 shares of the shipping service provider’s stock after selling 18,804 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in FedEx were worth $15,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in shares of FedEx by 72.7% during the third 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 during the last quarter. Peoples Financial Services CORP. acquired a new position in FedEx during the 4th quarter worth $28,000. City Holding Co. bought a new stake in shares of FedEx during the 4th quarter worth about $28,000. Finally, Kentucky Trust Co bought a new stake in FedEx during the fourth quarter worth approximately $28,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FDX shares. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Bank of America increased their price target on FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup increased their target price 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. Stephens lowered their price target on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. Finally, TD Cowen upped their price objective on shares of FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.87.

Insider Buying and Selling at FedEx

In other news, CEO Richard W. Smith sold 2,576 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy B. Lane acquired 333 shares of the stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now 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. Company insiders own 8.87% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $252.94 on Tuesday. FedEx Co. has a fifty-two week low of $239.07 and a fifty-two week high of $313.84. The firm has a market cap of $60.92 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. 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 business has a 50 day moving average price of $270.14 and a 200-day moving average price of $277.95.

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, beating analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $3.99 EPS. Equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, March 10th. 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.