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

Kentucky Retirement Systems lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,060 shares of the shipping service provider’s stock after selling 399 shares during the period. Kentucky Retirement Systems’ holdings in FedEx were worth $5,115,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Precision Wealth Strategies LLC purchased a new position in FedEx during the 4th quarter worth $324,000. Sachetta LLC purchased a new position in FedEx during the 4th quarter worth $32,000. Corient Private Wealth LLC raised its position in FedEx by 16.8% during the 4th quarter. Corient Private Wealth LLC now owns 137,595 shares of the shipping service provider’s stock worth $34,803,000 after buying an additional 19,820 shares during the last quarter. Quest Partners LLC purchased a new position in FedEx during the 4th quarter worth $267,000. Finally, Franklin Resources Inc. raised its position in FedEx by 38.6% during the 4th quarter. Franklin Resources Inc. now owns 153,907 shares of the shipping service provider’s stock worth $38,934,000 after buying an additional 42,844 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FDX. Morgan Stanley increased their price target on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. Daiwa America downgraded shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upgraded shares of FedEx from a “neutral” rating to an “overweight” rating and increased their price target for the company from $296.00 to $359.00 in a report on Wednesday, June 26th. Bank of America cut their price target on shares of FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Evercore ISI cut their price target on shares of FedEx from $339.00 to $335.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $314.58.

FedEx Price Performance

FedEx stock opened at $300.39 on Friday. FedEx Co. has a 12-month low of $224.69 and a 12-month high of $313.84. The stock has a market capitalization of $73.92 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.03 and a beta of 1.17. The firm’s 50-day moving average is $293.32 and its two-hundred day moving average is $274.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same period last year, the company earned $4.94 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.84%. FedEx’s dividend payout ratio is presently 32.04%.

Insider Buying and Selling

In related news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FedEx news, EVP Brie Carere sold 1,958 shares of FedEx stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sriram Krishnasamy sold 8,421 shares of FedEx stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares in the company, valued at $3,797,974.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,944 shares of company stock valued at $9,882,355. 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.