Illinois Municipal Retirement Fund Increases Holdings in FedEx Co. (NYSE:FDX)

Illinois Municipal Retirement Fund boosted its position in FedEx Co. (NYSE:FDX) by 44.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,275 shares of the shipping service provider’s stock after buying an additional 22,969 shares during the period. Illinois Municipal Retirement Fund’s holdings in FedEx were worth $22,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its holdings in shares of FedEx by 3.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 6,718 shares of the shipping service provider’s stock valued at $2,014,000 after acquiring an additional 217 shares during the last quarter. Intelligence Driven Advisers LLC purchased a new stake in FedEx in the second quarter valued at $248,000. Candriam S.C.A. boosted its holdings in FedEx by 0.3% in the second quarter. Candriam S.C.A. now owns 19,639 shares of the shipping service provider’s stock valued at $5,888,000 after purchasing an additional 63 shares during the last quarter. Private Advisor Group LLC grew its position in FedEx by 5.6% during the 2nd quarter. Private Advisor Group LLC now owns 19,551 shares of the shipping service provider’s stock worth $5,862,000 after purchasing an additional 1,042 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of FedEx by 0.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 26,237 shares of the shipping service provider’s stock valued at $7,867,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX traded down $2.27 during midday trading on Friday, hitting $283.04. The company had a trading volume of 1,117,464 shares, compared to its average volume of 1,787,930. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The stock has a market cap of $69.65 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The business’s 50-day simple moving average is $294.25 and its 200-day simple moving average is $271.87.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The business had revenue of $22.11 billion during the quarter, compared to the consensus estimate of $22.04 billion. During the same period last year, the company earned $4.94 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that FedEx Co. will post 20.87 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.95%. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Transactions at FedEx

In related news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares in the company, valued at $6,189,042.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $310.14, for a total value of $2,611,688.94. Following the sale, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brie Carere sold 1,958 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the transaction, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at approximately $6,189,042.91. The disclosure for this sale can be found here. Insiders sold 32,944 shares of company stock worth $9,882,355 in the last 90 days. Insiders own 8.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FDX. Stifel Nicolaus reaffirmed a “buy” rating and set a $327.00 target price (up from $303.00) on shares of FedEx in a report on Wednesday, June 26th. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 26th. The Goldman Sachs Group lifted their price objective on shares of FedEx from $316.00 to $333.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Bank of America increased their target price on shares of FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.96.

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.