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

Illinois Municipal Retirement Fund boosted its position in FedEx Co. (NYSE:FDX) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,306 shares of the shipping service provider’s stock after buying an additional 5,188 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in FedEx were worth $12,979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System lifted its position in shares of FedEx by 1.8% during the 4th quarter. California Public Employees Retirement System now owns 444,604 shares of the shipping service provider’s stock valued at $112,471,000 after acquiring an additional 7,856 shares during the last quarter. RWA Wealth Partners LLC boosted its holdings in FedEx by 572.4% during the fourth quarter. RWA Wealth Partners LLC now owns 77,463 shares of the shipping service provider’s stock valued at $19,596,000 after acquiring an additional 65,942 shares during the period. Sentry LLC bought a new stake in shares of FedEx in the fourth quarter valued at about $1,811,748,000. Mengis Capital Management Inc. lifted its stake in FedEx by 0.5% during the fourth quarter. Mengis Capital Management Inc. now owns 10,105 shares of the shipping service provider’s stock worth $2,556,000 after purchasing an additional 50 shares during the period. Finally, Telemus Capital LLC lifted its stake in FedEx by 2.3% during the fourth quarter. Telemus Capital LLC now owns 2,903 shares of the shipping service provider’s stock worth $734,000 after purchasing an additional 66 shares during the period. 84.47% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Guy M. Erwin II sold 2,749 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total transaction of $794,763.39. Following the transaction, the vice president now directly owns 486 shares of the company’s stock, valued at approximately $140,507.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FedEx news, CEO Sriram Krishnasamy sold 354 shares of FedEx stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total transaction of $102,373.26. Following the sale, the chief executive officer now directly owns 11,147 shares in the company, valued at approximately $3,223,600.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Guy M. Erwin II sold 2,749 shares of FedEx stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the sale, the vice president now owns 486 shares in the company, valued at $140,507.46. The disclosure for this sale can be found here. Insiders have sold 136,668 shares of company stock valued at $37,758,773 in the last three months. Corporate insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FDX. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Bank of America cut their price objective on shares of FedEx from $346.00 to $340.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. BNP Paribas restated an “underperform” rating and issued a $250.00 price target on shares of FedEx in a research report on Wednesday, March 27th. Evercore ISI raised their price objective on shares of FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets raised their price objective on shares of FedEx from $290.00 to $310.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $301.33.

FedEx Price Performance

FedEx stock traded up $2.29 during trading hours on Tuesday, hitting $272.44. The stock had a trading volume of 353,189 shares, compared to its average volume of 2,049,979. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The stock has a market capitalization of $67.04 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.26 and a beta of 1.21. FedEx Co. has a 1-year low of $213.80 and a 1-year high of $291.27. The stock’s fifty day moving average is $259.74 and its two-hundred day moving average is $254.18.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.37. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business had revenue of $21.70 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same quarter last year, the company earned $3.41 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx announced that its Board of Directors has authorized a share buyback plan on Thursday, March 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were paid a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is currently 29.07%.

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.