State of Alaska Department of Revenue Sells 22,315 Shares of FedEx Co. (NYSE:FDX)

State of Alaska Department of Revenue reduced its position in FedEx Co. (NYSE:FDXGet Rating) by 32.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,531 shares of the shipping service provider’s stock after selling 22,315 shares during the quarter. State of Alaska Department of Revenue’s holdings in FedEx were worth $10,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of FedEx by 2.1% during the first quarter. Vanguard Group Inc. now owns 18,784,798 shares of the shipping service provider’s stock worth $4,346,614,000 after acquiring an additional 394,289 shares during the last quarter. Dodge & Cox boosted its position in shares of FedEx by 22.2% during the fourth quarter. Dodge & Cox now owns 16,674,920 shares of the shipping service provider’s stock worth $4,312,801,000 after acquiring an additional 3,031,046 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of FedEx by 0.3% during the first quarter. Primecap Management Co. CA now owns 13,237,477 shares of the shipping service provider’s stock worth $3,063,020,000 after acquiring an additional 41,945 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of FedEx by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,404,754 shares of the shipping service provider’s stock worth $556,512,000 after acquiring an additional 78,183 shares during the last quarter. Finally, Norges Bank bought a new position in shares of FedEx during the fourth quarter worth $593,029,000. 71.62% of the stock is currently owned by institutional investors.

FedEx Trading Down 21.4 %

Shares of FDX opened at $161.02 on Monday. FedEx Co. has a twelve month low of $155.00 and a twelve month high of $266.79. The company has a market cap of $41.85 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.58 and a beta of 1.21. The company has a current ratio of 1.43, a quick ratio of 1.38 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $221.14 and its 200-day simple moving average is $218.01.

FedEx (NYSE:FDXGet Rating) last posted its quarterly earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing the consensus estimate of $6.91 by ($0.04). The company had revenue of $24.39 billion during the quarter, compared to analysts’ expectations of $24.28 billion. FedEx had a return on equity of 22.29% and a net margin of 4.09%. During the same period in the prior year, the business earned $5.01 EPS. As a group, analysts expect that FedEx Co. will post 23 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, September 1st. FedEx’s dividend payout ratio is presently 32.17%.

Insider Buying and Selling

In related news, EVP Brie Carere sold 11,235 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $228.85, for a total value of $2,571,129.75. Following the transaction, the executive vice president now owns 16,366 shares of the company’s stock, valued at approximately $3,745,359.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FedEx news, EVP Robert B. Carter sold 12,310 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $224.67, for a total transaction of $2,765,687.70. Following the transaction, the executive vice president now directly owns 54,916 shares in the company, valued at approximately $12,337,977.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brie Carere sold 11,235 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $228.85, for a total transaction of $2,571,129.75. Following the transaction, the executive vice president now owns 16,366 shares in the company, valued at $3,745,359.10. The disclosure for this sale can be found here. Insiders have sold 48,810 shares of company stock valued at $11,199,898 in the last 90 days. Company insiders own 8.62% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on shares of FedEx from $269.00 to $199.00 and set an “overweight” rating for the company in a research report on Friday. Barclays set a $320.00 target price on shares of FedEx in a research report on Friday, June 24th. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the company from $339.00 to $202.00 in a research report on Friday. Berenberg Bank lowered shares of FedEx from a “buy” rating to a “hold” rating and lowered their price objective for the company from $333.00 to $275.00 in a research report on Friday, July 1st. Finally, UBS Group lowered their price objective on shares of FedEx from $308.00 to $232.00 and set a “buy” rating for the company in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $245.04.

FedEx Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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