FedEx Co. (NYSE:FDX) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 66,725 shares of the shipping service provider’s stock after acquiring 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FDX. Citizens Financial Group Inc. RI grew its position in shares of FedEx by 3.0% in the third quarter. Citizens Financial Group Inc. RI now owns 1,308 shares of the shipping service provider’s stock valued at $360,000 after purchasing an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC lifted its stake in shares of FedEx by 4.0% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 1,020 shares of the shipping service provider’s stock valued at $279,000 after buying an additional 39 shares during the period. Harbour Investments Inc. lifted its stake in shares of FedEx by 1.5% in the third quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock valued at $728,000 after buying an additional 40 shares during the period. Cetera Trust Company N.A lifted its stake in shares of FedEx by 0.5% in the fourth quarter. Cetera Trust Company N.A now owns 7,925 shares of the shipping service provider’s stock valued at $2,230,000 after buying an additional 40 shares during the period. Finally, Griffin Asset Management Inc. lifted its stake in shares of FedEx by 0.4% in the fourth quarter. Griffin Asset Management Inc. now owns 10,365 shares of the shipping service provider’s stock valued at $2,916,000 after buying an additional 40 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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. Piper Sandler cut shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of FedEx from $372.00 to $323.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James cut shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Monday, February 3rd. Finally, Bank of America raised their price target on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $319.74.

Insiders Place Their Bets

In other news, CEO Richard W. Smith sold 2,576 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were 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 owns 111,886 shares of the company’s stock, valued at $30,984,589.98. The trade was a 2.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Stock Performance

NYSE:FDX opened at $250.64 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $60.37 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The firm has a 50 day moving average of $267.66 and a 200-day moving average of $276.69. FedEx Co. has a 1 year low of $242.92 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $3.99 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

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 dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is presently 35.18%.

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.