Louisiana State Employees Retirement System Lowers Holdings in FedEx Co. (NYSE:FDX)

Louisiana State Employees Retirement System lowered its holdings in FedEx Co. (NYSE:FDX) by 4.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,100 shares of the shipping service provider’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in FedEx were worth $3,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Portfolio Design Labs LLC lifted its holdings in FedEx by 29.1% in the fourth quarter. Portfolio Design Labs LLC now owns 9,347 shares of the shipping service provider’s stock valued at $2,630,000 after acquiring an additional 2,108 shares during the period. Edmp Inc. lifted its holdings in FedEx by 1.6% in the fourth quarter. Edmp Inc. now owns 4,964 shares of the shipping service provider’s stock valued at $1,397,000 after acquiring an additional 80 shares during the period. Stonebridge Financial Group LLC acquired a new stake in FedEx in the fourth quarter valued at $76,000. Violich Capital Management Inc. lifted its holdings in FedEx by 36.0% in the fourth quarter. Violich Capital Management Inc. now owns 6,895 shares of the shipping service provider’s stock valued at $1,940,000 after acquiring an additional 1,825 shares during the period. Finally, Panoramic Capital Partners LLC acquired a new stake in FedEx in the fourth quarter valued at $229,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Up 0.2 %

FDX opened at $263.30 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $63.41 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.07 and a beta of 1.18. The business has a 50-day moving average of $272.98 and a two-hundred day moving average of $279.56. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating the consensus estimate of $3.88 by $0.17. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $3.99 EPS. On average, research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

Insider Buying and Selling at FedEx

In other 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 owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John W. Dietrich bought 1,000 shares of the firm’s stock in a transaction dated 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 acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This trade represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. 8.87% of the stock is owned by company insiders.

Analyst Ratings Changes

FDX has been the subject of several research reports. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and cut their price target for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Raymond James lifted their price target on FedEx from $305.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. BMO Capital Markets lifted their price target on FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Sanford C. Bernstein downgraded FedEx from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $337.00 to $316.00 in a research note on Tuesday, December 3rd. Finally, UBS Group lifted their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.