Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in FedEx Co. (NYSE:FDX)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of FedEx Co. (NYSE:FDX) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,673 shares of the shipping service provider’s stock after selling 629 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in FedEx were worth $1,826,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FDX. Evermay Wealth Management LLC boosted its position in FedEx by 72.7% during the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after acquiring an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new position in FedEx in the third quarter worth $31,000. Central Valley Advisors LLC purchased a new position in FedEx during the second quarter valued at $39,000. Abound Wealth Management boosted its holdings in shares of FedEx by 175.9% during the 2nd quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock valued at $45,000 after buying an additional 95 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in FedEx in the third quarter worth about $47,000. 84.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. HSBC downgraded FedEx from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Friday, September 20th. Bernstein Bank upped their price target on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Robert W. Baird cut their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, TD Cowen decreased their target price on shares of FedEx from $334.00 to $328.00 and set a “buy” rating for the company in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.04.

FedEx Stock Up 0.7 %

FDX opened at $294.46 on Friday. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84. The firm’s 50 day simple moving average is $275.40 and its two-hundred day simple moving average is $276.37. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $71.94 billion, a PE ratio of 18.17, a PEG ratio of 1.17 and a beta of 1.17.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a net margin of 4.62% and a return on equity of 15.61%. FedEx’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $4.55 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 19.59 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, December 9th. FedEx’s payout ratio is 34.05%.

FedEx Company 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.