Treasurer of the State of North Carolina Has $28.76 Million Stock Position in FedEx Co. (NYSE:FDX)

Treasurer of the State of North Carolina lifted its stake in shares of FedEx Co. (NYSE:FDX) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,230 shares of the shipping service provider’s stock after buying an additional 460 shares during the period. Treasurer of the State of North Carolina’s holdings in FedEx were worth $28,760,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FDX. Morse Asset Management Inc acquired a new stake in shares of FedEx during the third quarter valued at about $465,000. Coldstream Capital Management Inc. raised its holdings in FedEx by 11.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,935 shares of the shipping service provider’s stock valued at $1,357,000 after buying an additional 514 shares during the last quarter. Toronto Dominion Bank grew its holdings in FedEx by 1.7% during the 3rd quarter. Toronto Dominion Bank now owns 83,811 shares of the shipping service provider’s stock worth $22,937,000 after acquiring an additional 1,361 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of FedEx by 57.9% during the third quarter. Sunbelt Securities Inc. now owns 1,083 shares of the shipping service provider’s stock worth $296,000 after purchasing an additional 397 shares during the period. Finally, TCW Group Inc. grew its position in shares of FedEx by 76.0% in the 3rd quarter. TCW Group Inc. now owns 32,310 shares of the shipping service provider’s stock valued at $8,843,000 after buying an additional 13,954 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FedEx stock opened at $206.06 on Friday. The business’s fifty day simple moving average is $244.94 and its 200 day simple moving average is $266.13. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 12 month low of $194.30 and a 12 month high of $313.84. The firm has a market capitalization of $49.37 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.86 earnings per share. As a group, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Monday, March 10th. FedEx’s dividend payout ratio is currently 34.63%.

Analysts Set New Price Targets

A number of research firms recently commented on FDX. JPMorgan Chase & Co. cut their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Barclays dropped their price target on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. UBS Group decreased their price objective on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a research report on Friday, March 21st. TD Cowen dropped their target price on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $300.63.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

About FedEx

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.