Kentucky Retirement Systems Has $4.68 Million Stake in FedEx Co. (NYSE:FDX)

Kentucky Retirement Systems cut its stake in FedEx Co. (NYSE:FDXFree Report) by 1.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,507 shares of the shipping service provider’s stock after selling 235 shares during the quarter. Kentucky Retirement Systems’ holdings in FedEx were worth $4,682,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its position in shares of FedEx by 133.6% in the third quarter. Orion Portfolio Solutions LLC now owns 11,422 shares of the shipping service provider’s stock worth $3,026,000 after purchasing an additional 6,533 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in FedEx by 5.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,839 shares of the shipping service provider’s stock valued at $5,256,000 after buying an additional 1,045 shares during the last quarter. Csenge Advisory Group lifted its position in FedEx by 23.6% during the 3rd quarter. Csenge Advisory Group now owns 2,006 shares of the shipping service provider’s stock worth $531,000 after buying an additional 383 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of FedEx by 10.3% during the 3rd quarter. Empirical Finance LLC now owns 8,203 shares of the shipping service provider’s stock worth $2,173,000 after buying an additional 764 shares during the last quarter. Finally, WFA of San Diego LLC bought a new position in shares of FedEx in the 3rd quarter valued at about $79,000. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other news, EVP Tracy B. Brightman sold 2,550 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total transaction of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares of the company’s stock, valued at approximately $1,735,192.86. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Frederick W. Smith sold 113,400 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $274.30, for a total transaction of $31,105,620.00. Following the sale, the chairman now directly owns 14,505,844 shares in the company, valued at approximately $3,978,953,009.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,668 shares of company stock worth $37,758,773. Corporate insiders own 8.73% of the company’s stock.

FedEx Stock Performance

Shares of FDX traded down $1.53 during mid-day trading on Friday, hitting $257.25. 1,419,700 shares of the company’s stock were exchanged, compared to its average volume of 1,270,371. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. The firm has a market cap of $63.30 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.23. The stock’s 50-day simple moving average is $267.12 and its 200-day simple moving average is $256.56. FedEx Co. has a 52 week low of $213.80 and a 52 week high of $291.27.

FedEx (NYSE:FDXGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The company had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. FedEx’s revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business earned $3.41 earnings per share. On average, equities research analysts expect that FedEx Co. will post 17.7 EPS for the current year.

FedEx announced that its board has approved a stock repurchase program on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to purchase up to 7.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus dropped their target price on FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Evercore ISI increased their price objective on FedEx from $327.00 to $351.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Barclays boosted their target price on shares of FedEx from $310.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. TD Cowen lifted their price objective on shares of FedEx from $293.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Finally, Oppenheimer restated a “market perform” rating on shares of FedEx in a research note 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 stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average price target of $301.33.

Get Our Latest Stock Analysis on FDX

FedEx Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDXFree Report).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.