Retirement Systems of Alabama Has $13.69 Million Stock Holdings in FedEx Co. (NYSE:FDX)

Retirement Systems of Alabama trimmed its holdings in FedEx Co. (NYSE:FDX) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 48,667 shares of the shipping service provider’s stock after selling 937 shares during the quarter. Retirement Systems of Alabama’s holdings in FedEx were worth $13,691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atomi Financial Group Inc. boosted its stake in FedEx by 11.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 1,184 shares of the shipping service provider’s stock valued at $324,000 after purchasing an additional 120 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of FedEx by 8.2% in the third quarter. Brookstone Capital Management now owns 5,450 shares of the shipping service provider’s stock valued at $1,492,000 after purchasing an additional 415 shares in the last quarter. CWM LLC boosted its position in shares of FedEx by 13.1% during the third quarter. CWM LLC now owns 8,562 shares of the shipping service provider’s stock valued at $2,343,000 after buying an additional 991 shares during the last quarter. Marcum Wealth LLC grew its holdings in FedEx by 5.6% during the third quarter. Marcum Wealth LLC now owns 1,095 shares of the shipping service provider’s stock worth $300,000 after buying an additional 58 shares in the last quarter. Finally, Perpetual Ltd raised its position in FedEx by 78.9% in the 3rd quarter. Perpetual Ltd now owns 5,047 shares of the shipping service provider’s stock valued at $1,381,000 after buying an additional 2,226 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

In related news, EVP John W. Dietrich bought 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now directly owns 9,067 shares of the company’s stock, valued at $2,484,176.66. This trade represents a 12.40 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Amy B. Lane purchased 333 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $256.01 on Friday. 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 one year low of $234.45 and a one year high of $313.84. The firm has a market capitalization of $61.66 billion, a P/E ratio of 16.32, a PEG ratio of 1.10 and a beta of 1.18. The business has a fifty day moving average price of $275.52 and a 200-day moving average price of $280.86.

FedEx (NYSE:FDX) last posted its 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. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. During the same quarter in the previous year, the firm earned $3.99 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

Analyst Ratings Changes

Several analysts have recently issued reports on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Raymond James upped their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Wells Fargo & Company lifted their target price on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Barclays upped their target price on FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price target on FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $321.87.

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.