Illinois Municipal Retirement Fund Reduces Holdings in FedEx Corporation (NYSE:FDX)

Illinois Municipal Retirement Fund lessened its stake in FedEx Corporation (NYSE:FDX - Free Report) by 15.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,394 shares of the shipping service provider's stock after selling 8,216 shares during the period. Illinois Municipal Retirement Fund's holdings in FedEx were worth $11,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in FedEx in the first quarter valued at $147,000. Farther Finance Advisors LLC boosted its stake in FedEx by 27.6% in the first quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock valued at $538,000 after acquiring an additional 481 shares in the last quarter. Allianz SE acquired a new stake in shares of FedEx during the fourth quarter worth about $18,342,000. Parvin Asset Management LLC acquired a new stake in shares of FedEx during the fourth quarter worth about $281,000. Finally, Landscape Capital Management L.L.C. boosted its stake in shares of FedEx by 87.2% during the fourth quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider's stock worth $3,734,000 after buying an additional 6,180 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Price Performance

FedEx stock traded up $8.30 during mid-day trading on Friday, reaching $229.37. The company had a trading volume of 4,051,499 shares, compared to its average volume of 1,848,267. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.19. The company has a market capitalization of $54.96 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.18 and a beta of 1.35. The stock's 50-day simple moving average is $220.19 and its 200-day simple moving average is $242.96.

FedEx (NYSE:FDX - Get Free Report) last issued its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The company had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. During the same period last year, the company posted $5.41 earnings per share. On average, equities analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio (DPR) is 36.39%.

Wall Street Analyst Weigh In

FDX has been the subject of several recent research reports. Wall Street Zen downgraded shares of FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Cowen reiterated a "buy" rating on shares of FedEx in a research note on Wednesday. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Susquehanna increased their target price on shares of FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research note on Wednesday. Finally, BMO Capital Markets decreased their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $283.00.

FedEx 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.