South Dakota Investment Council Decreases Stock Holdings in FedEx Co. (NYSE:FDX)

South Dakota Investment Council trimmed its position in shares of FedEx Co. (NYSE:FDX) by 0.4% during the 4th quarter, Holdings Channel reports. The fund owned 52,353 shares of the shipping service provider’s stock after selling 200 shares during the period. South Dakota Investment Council’s holdings in FedEx were worth $14,728,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. IVC Wealth Advisors LLC increased its position in shares of FedEx by 2.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock valued at $533,000 after purchasing an additional 38 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in 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 buying an additional 38 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its holdings 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 purchasing an additional 39 shares during the period. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Finally, Harbour Investments Inc. grew its holdings in FedEx by 1.5% during the third quarter. Harbour Investments Inc. now owns 2,661 shares of the shipping service provider’s stock worth $728,000 after acquiring an additional 40 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 5.4 %

FDX opened at $253.97 on Friday. FedEx Co. has a 12 month low of $239.07 and a 12 month high of $313.84. The stock has a market capitalization of $61.17 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The business has a fifty day moving average price of $270.75 and a 200 day moving average price of $278.13.

FedEx (NYSE:FDX) last released its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping the consensus estimate of $3.88 by $0.17. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.99 EPS. Sell-side analysts expect that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently declared 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 2.17%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio (DPR) is 35.18%.

Analyst Upgrades and Downgrades

Several analysts have commented on FDX shares. Stephens dropped their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Raymond James lowered FedEx from an “outperform” rating to a “market perform” rating in a report on Monday, February 3rd. Citigroup raised their target price on FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. Finally, BMO Capital Markets lifted their price objective on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $321.87.

Insider Activity

In related news, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now directly owns 333 shares in the company, valued at approximately $91,927.98. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares of the company’s stock, valued at approximately $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 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.