FedEx Corporation $FDX Stake Reduced by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its FedEx stake by 35.9% in Q4, selling 15,513 shares and ending the quarter with 27,693 shares worth about $7.999 million.
• Brokerages have largely raised price targets, leaving a consensus rating of "Moderate Buy" with an average target of about $398.04, while the stock trades near $371.21.
• FedEx beat quarterly estimates (EPS $5.25 vs. $4.12 expected) with $24 billion in revenue (+8.3% YoY) and recently paid a quarterly dividend of $1.45 (annualized yield ~1.6%).

State of Alaska Department of Revenue reduced its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 35.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,693 shares of the shipping service provider's stock after selling 15,513 shares during the quarter. State of Alaska Department of Revenue's holdings in FedEx were worth $7,999,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Bridge LLC grew its stake in FedEx by 33.0% during the 4th quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider's stock worth $38,000 after buying an additional 33 shares during the last quarter. True Wealth Design LLC grew its stake in FedEx by 8.2% during the 4th quarter. True Wealth Design LLC now owns 462 shares of the shipping service provider's stock worth $133,000 after buying an additional 35 shares during the last quarter. ORG Partners LLC grew its stake in FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after buying an additional 35 shares during the last quarter. Brookstone Capital Management grew its stake in FedEx by 1.4% during the 4th quarter. Brookstone Capital Management now owns 2,835 shares of the shipping service provider's stock worth $819,000 after buying an additional 38 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in FedEx by 0.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 8,896 shares of the shipping service provider's stock worth $2,570,000 after buying an additional 38 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on FDX. JPMorgan Chase & Co. restated a "neutral" rating on shares of FedEx in a research note on Thursday, April 9th. Jefferies Financial Group increased their price target on FedEx from $425.00 to $450.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. BMO Capital Markets increased their price target on FedEx from $400.00 to $410.00 and gave the stock a "market perform" rating in a research note on Friday, March 20th. Stephens increased their price target on FedEx from $405.00 to $435.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. Finally, Evercore increased their price target on FedEx from $364.00 to $380.00 in a research note on Tuesday, February 24th. Eighteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $398.04.

FedEx Trading Down 0.8%

NYSE:FDX opened at $371.21 on Tuesday. FedEx Corporation has a 1 year low of $201.03 and a 1 year high of $392.86. The stock has a market cap of $88.57 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.64 and a beta of 1.28. The business has a fifty day moving average of $366.49 and a 200-day moving average of $306.53. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. During the same quarter in the prior year, the business posted $4.51 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 9th were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $5.80 annualized dividend and a yield of 1.6%. FedEx's dividend payout ratio (DPR) is currently 30.87%.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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