Kentucky Retirement Systems Insurance Trust Fund Has $2.97 Million Position in FedEx Co. (NYSE:FDX)

Kentucky Retirement Systems Insurance Trust Fund increased its position in FedEx Co. (NYSE:FDX) by 57.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,540 shares of the shipping service provider’s stock after buying an additional 3,867 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in FedEx were worth $2,965,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Key Financial Inc boosted its position in FedEx by 30.3% during the fourth quarter. Key Financial Inc now owns 254 shares of the shipping service provider’s stock worth $71,000 after purchasing an additional 59 shares during the period. Cardinal Capital Management boosted its position in FedEx by 0.3% during the fourth quarter. Cardinal Capital Management now owns 16,473 shares of the shipping service provider’s stock worth $4,657,000 after purchasing an additional 54 shares during the period. Kestra Investment Management LLC bought a new stake in FedEx during the fourth quarter worth approximately $86,000. Atria Wealth Solutions Inc. boosted its position in FedEx by 8.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 13,039 shares of the shipping service provider’s stock worth $3,681,000 after purchasing an additional 1,029 shares during the period. Finally, Pinnbrook Capital Management LP bought a new stake in shares of FedEx in the fourth quarter valued at approximately $4,008,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John W. Dietrich purchased 1,000 shares of FedEx stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now owns 9,067 shares in the company, valued at $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the transaction, the chief executive officer now owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on FedEx from $370.00 to $372.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. TD Cowen upped their target price on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stephens dropped their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, Raymond James raised their price target on FedEx from $305.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $321.87.

FedEx Price Performance

Shares of FDX stock opened at $267.83 on Tuesday. The business has a fifty day simple moving average of $272.40 and a 200 day simple moving average of $278.92. The company has a market cap of $64.51 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.07 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 Co. has a twelve month low of $234.45 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. During the same period in the prior year, the firm posted $3.99 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.38 per share. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.06%. FedEx’s payout ratio is 35.18%.

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.