Arizona State Retirement System Grows Stake in FedEx Co. (NYSE:FDX)

Arizona State Retirement System boosted its position in FedEx Co. (NYSE:FDX) by 0.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,725 shares of the shipping service provider’s stock after purchasing an additional 181 shares during the period. Arizona State Retirement System’s holdings in FedEx were worth $18,772,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new position in FedEx in the 4th quarter valued at approximately $1,037,000. Proficio Capital Partners LLC purchased a new position in FedEx in the 4th quarter valued at approximately $56,065,000. Assetmark Inc. increased its stake in FedEx by 0.8% in the 4th quarter. Assetmark Inc. now owns 302,761 shares of the shipping service provider’s stock valued at $85,176,000 after purchasing an additional 2,275 shares in the last quarter. Jag Capital Management LLC increased its stake in FedEx by 2.4% in the 4th quarter. Jag Capital Management LLC now owns 10,755 shares of the shipping service provider’s stock valued at $3,026,000 after purchasing an additional 248 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in FedEx by 13.5% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 13,215 shares of the shipping service provider’s stock valued at $3,708,000 after purchasing an additional 1,572 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 1.2 %

NYSE:FDX opened at $250.64 on Thursday. The business’s 50-day moving average is $267.66 and its two-hundred day moving average is $276.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. FedEx Co. has a 12 month low of $242.92 and a 12 month high of $313.84. The firm has a market capitalization of $60.37 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period in the previous year, the company earned $3.99 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is currently 35.18%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on FedEx from $305.00 to $320.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Bank of America raised their price target on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. BMO Capital Markets raised their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, UBS Group raised their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.74.

Insider Activity at FedEx

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the completion of the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy B. Lane bought 333 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $276.06 per share, with a total value of $91,927.98. Following the completion of the purchase, the director now owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

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.