Kentucky Retirement Systems Insurance Trust Fund Reduces Stake in FedEx Corporation (NYSE:FDX)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in FedEx Corporation (NYSE:FDX - Free Report) by 38.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,444 shares of the shipping service provider's stock after selling 4,096 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in FedEx were worth $1,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intact Investment Management Inc. grew its position in shares of FedEx by 350.0% during the 1st quarter. Intact Investment Management Inc. now owns 900 shares of the shipping service provider's stock worth $219,000 after buying an additional 700 shares in the last quarter. Woodmont Investment Counsel LLC grew its holdings in FedEx by 6.6% during the 1st quarter. Woodmont Investment Counsel LLC now owns 2,635 shares of the shipping service provider's stock worth $642,000 after acquiring an additional 163 shares in the last quarter. PFG Investments LLC increased its position in FedEx by 11.8% during the 1st quarter. PFG Investments LLC now owns 4,413 shares of the shipping service provider's stock valued at $1,076,000 after purchasing an additional 465 shares during the period. North Growth Management Ltd. raised its holdings in shares of FedEx by 3.0% in the 1st quarter. North Growth Management Ltd. now owns 34,000 shares of the shipping service provider's stock valued at $8,196,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Evanson Asset Management LLC lifted its position in shares of FedEx by 6.0% in the 1st quarter. Evanson Asset Management LLC now owns 879 shares of the shipping service provider's stock worth $214,000 after purchasing an additional 50 shares during the period. Institutional investors own 84.47% of the company's stock.

Analyst Ratings Changes

FDX has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of FedEx from $260.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Oppenheimer reissued a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Citigroup decreased their price objective on FedEx from $305.00 to $267.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research note 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 for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $291.50.

FedEx Stock Performance

Shares of FedEx stock traded down $0.17 during trading on Tuesday, hitting $229.06. 4,493,356 shares of the company's stock were exchanged, compared to its average volume of 1,866,191. The stock has a market capitalization of $54.88 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.15 and a beta of 1.35. The business has a 50-day simple moving average of $218.67 and a 200-day simple moving average of $243.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24. FedEx Corporation has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a net margin of 4.46% and a return on equity of 16.00%. During the same quarter last year, the company posted $5.41 EPS. On average, research analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently announced 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. The ex-dividend date is Monday, June 23rd. 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. FedEx's payout ratio is currently 36.39%.

Insider Activity at FedEx

In other news, COO John Alan Smith sold 6,155 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company's stock, valued at $5,686,161.85. This represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.87% of the stock is currently owned by corporate 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.