Kentucky Retirement Systems Has $8.75 Million Holdings in FedEx Corporation $FDX

Kentucky Retirement Systems increased its holdings in shares of FedEx Corporation (NYSE:FDX) by 82.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,574 shares of the shipping service provider’s stock after purchasing an additional 11,118 shares during the quarter. Kentucky Retirement Systems’ holdings in FedEx were worth $8,753,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Sivia Capital Partners LLC bought a new position in shares of FedEx in the second quarter valued at $586,000. CWM LLC increased its holdings in FedEx by 32.2% during the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after buying an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan raised its position in FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after acquiring an additional 3,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in FedEx by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock valued at $12,081,000 after acquiring an additional 6,864 shares during the last quarter. Finally, North Dakota State Investment Board acquired a new stake in FedEx in the fourth quarter valued at $2,122,000. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FDX shares. HSBC decreased their price objective on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research report on Monday, June 1st. Rothschild & Co Redburn cut their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Seaport Research Partners assumed coverage on FedEx in a report on Wednesday, May 27th. They set a “buy” rating for the company. Sanford C. Bernstein set a $397.00 price target on FedEx in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

FedEx Price Performance

NYSE:FDX opened at $308.96 on Thursday. The company has a market cap of $73.10 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.61 and a beta of 1.29. The firm’s fifty day moving average price is $332.02 and its two-hundred day moving average price is $350.48. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Equities analysts expect that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio is currently 26.36%.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.