Public Employees Retirement Association of Colorado Sells 1,223 Shares of FedEx Co. (NYSE:FDX)

Public Employees Retirement Association of Colorado trimmed its position in FedEx Co. (NYSE:FDX) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,492 shares of the shipping service provider’s stock after selling 1,223 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in FedEx were worth $9,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Crossmark Global Holdings Inc. boosted its holdings in FedEx by 20.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock valued at $7,398,000 after acquiring an additional 5,055 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in FedEx during the 1st quarter valued at approximately $1,667,000. Allegheny Financial Group LTD acquired a new stake in FedEx in the 1st quarter valued at approximately $203,000. Hilltop National Bank acquired a new position in shares of FedEx during the first quarter worth approximately $476,000. Finally, Csenge Advisory Group boosted its position in shares of FedEx by 14.9% in the first quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after acquiring an additional 298 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

FedEx stock opened at $254.64 on Friday. The business’s fifty day moving average is $292.43 and its two-hundred day moving average is $275.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. FedEx Co. has a 52 week low of $224.69 and a 52 week high of $313.84. The firm has a market cap of $62.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.03 and a beta of 1.17.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.55 earnings per share. Equities research analysts forecast that FedEx Co. will post 20.82 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of research reports. Stifel Nicolaus reduced their price target on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. decreased their target price on FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday. Raymond James cut their price target on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday. Wells Fargo & Company lifted their price objective on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 26th. Finally, TD Cowen cut their target price on FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $313.38.

Insider Activity at FedEx

In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total transaction of $34,711.84. Following the completion of the sale, the chief accounting officer now owns 930 shares in the company, valued at approximately $278,293.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was 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 owns 12,246 shares in the company, valued at $3,797,974.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Guy M. Erwin II sold 116 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares of the company’s stock, valued at $278,293.20. The disclosure for this sale can be found here. Insiders have sold 32,944 shares of company stock worth $9,882,355 over the last ninety days. Company insiders own 8.73% of the company’s stock.

FedEx Company 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.