South Dakota Investment Council Sells 200 Shares of FedEx Co. (NYSE:FDX)

South Dakota Investment Council trimmed its position in FedEx Co. (NYSE:FDX) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,353 shares of the shipping service provider’s stock after selling 200 shares during the quarter. South Dakota Investment Council’s holdings in FedEx were worth $14,728,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in FedEx by 1,289.5% in the third quarter. Assenagon Asset Management S.A. now owns 95,929 shares of the shipping service provider’s stock valued at $26,254,000 after buying an additional 89,025 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in FedEx by 2.1% in the third quarter. Lake Street Advisors Group LLC now owns 2,250 shares of the shipping service provider’s stock valued at $619,000 after buying an additional 46 shares in the last quarter. St. Johns Investment Management Company LLC boosted its position in FedEx by 1.8% in the third quarter. St. Johns Investment Management Company LLC now owns 3,450 shares of the shipping service provider’s stock valued at $944,000 after buying an additional 60 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in FedEx by 30.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,364 shares of the shipping service provider’s stock valued at $3,847,000 after buying an additional 3,330 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in FedEx by 0.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 19,033 shares of the shipping service provider’s stock valued at $5,209,000 after buying an additional 91 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of FDX stock opened at $253.97 on Friday. The stock has a fifty day moving average of $270.75 and a 200 day moving average of $278.13. FedEx Co. has a 52 week low of $239.07 and a 52 week high of $313.84. The firm has a market capitalization of $61.17 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.11 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analyst estimates of $22.14 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $3.99 earnings per share. As a group, research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.17%. FedEx’s payout ratio is 35.18%.

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. UBS Group raised their target price on shares of FedEx from $311.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Piper Sandler lowered shares of FedEx to a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and dropped their target price for the company from $365.00 to $283.00 in a report on Monday, February 3rd. Finally, Citigroup boosted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

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.