Public Employees Retirement Association of Colorado Reduces Position in FedEx Co. (NYSE:FDX)

Public Employees Retirement Association of Colorado decreased its stake in shares of FedEx Co. (NYSE:FDX) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,477 shares of the shipping service provider’s stock after selling 949 shares during the period. Public Employees Retirement Association of Colorado’s holdings in FedEx were worth $8,855,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC increased its position in FedEx by 144.4% during the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after buying an additional 52 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of FedEx during the fourth quarter worth $26,000. Peoples Financial Services CORP. acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. City Holding Co. acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX opened at $211.48 on Tuesday. The business’s fifty day moving average price is $232.36 and its 200 day moving average price is $261.42. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The stock has a market capitalization of $50.67 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. 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 (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter last year, the business earned $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.61%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FDX. Loop Capital cut FedEx from a “hold” rating to a “sell” rating and decreased their price objective for the stock from $283.00 to $221.00 in a report on Friday, March 21st. Barclays reduced their target price on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Bank of America reduced their target price on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Stephens reduced their target price on FedEx from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, BMO Capital Markets reduced their price objective on FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.71.

Insider Buying and Selling

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.87% of the stock is currently owned by company insiders.

FedEx 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.