State of Alaska Department of Revenue reduced its stake in shares of FedEx Co. (NYSE:FDX) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,493 shares of the shipping service provider’s stock after selling 3,002 shares during the quarter. State of Alaska Department of Revenue’s holdings in FedEx were worth $7,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FDX. Berman Capital Advisors LLC bought a new stake in FedEx in the fourth quarter worth about $25,000. Northwest Wealth Management LLC raised its position in FedEx by 842.1% in the fourth quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 160 shares in the last quarter. Advocacy Wealth Management Services LLC raised its position in FedEx by 52.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after acquiring an additional 63 shares in the last quarter. Sound Income Strategies LLC raised its position in FedEx by 1,666.7% in the fourth quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Somerset Trust Co raised its position in FedEx by 151.0% in the first quarter. Somerset Trust Co now owns 246 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 71.73% of the company’s stock.

Several equities research analysts have commented on FDX shares. Daiwa Capital Markets set a $190.00 price target on shares of FedEx and gave the stock a “buy” rating in a research report on Thursday, December 20th. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. BMO Capital Markets cut their price objective on FedEx to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, December 19th. They noted that the move was a valuation call. ValuEngine upgraded FedEx from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 26th. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $233.00 price objective on shares of FedEx in a report on Monday, December 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $214.19.

In related news, Director Susan C. Schwab sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total value of $525,330.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the sale, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at approximately $2,837,032,888.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,950 shares of company stock worth $35,170,622. Company insiders own 8.50% of the company’s stock.

NYSE:FDX opened at $191.00 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46. FedEx Co. has a fifty-two week low of $150.94 and a fifty-two week high of $266.67. The stock has a market cap of $49.77 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 0.96 and a beta of 1.62.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The business had revenue of $17.01 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same period last year, the firm earned $3.72 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts forecast that FedEx Co. will post 15.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $0.65 per share. The ex-dividend date was Friday, March 8th. This represents a $2.60 annualized dividend and a yield of 1.36%. FedEx’s dividend payout ratio (DPR) is presently 16.98%.

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FedEx Profile

FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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