Arizona State Retirement System increased its stake in FedEx Co. (NYSE:FDX) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,101 shares of the shipping service provider’s stock after purchasing an additional 3,046 shares during the period. Arizona State Retirement System’s holdings in FedEx were worth $19,739,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in FDX. Vanguard Group Inc. increased its position in FedEx by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after acquiring an additional 492,840 shares during the period. FMR LLC increased its position in FedEx by 0.3% in the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after acquiring an additional 15,382 shares during the period. Ameriprise Financial Inc. increased its position in FedEx by 7.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock valued at $885,594,000 after acquiring an additional 266,660 shares during the period. Jennison Associates LLC increased its position in FedEx by 47.4% in the 4th quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock valued at $920,226,000 after acquiring an additional 1,185,447 shares during the period. Finally, Capital World Investors increased its position in FedEx by 16.1% in the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after acquiring an additional 501,617 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.
FedEx Co. (NYSE:FDX) opened at $244.19 on Friday. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $274.66. The stock has a market capitalization of $65,420.00, a price-to-earnings ratio of 22.44, a PEG ratio of 1.43 and a beta of 1.30. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Monday, April 2nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.82%. FedEx’s payout ratio is 18.38%.
Several research firms recently commented on FDX. Zacks Investment Research upgraded FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 target price on the stock in a research report on Thursday, January 18th. Bank of America restated a “buy” rating and issued a $315.00 target price on shares of FedEx in a research report on Friday, January 12th. BMO Capital Markets restated a “buy” rating and issued a $300.00 target price on shares of FedEx in a research report on Monday, January 8th. Robert W. Baird restated a “buy” rating and issued a $280.00 target price on shares of FedEx in a research report on Tuesday, January 9th. Finally, UBS Group upgraded FedEx from a “neutral” rating to a “buy” rating and raised their target price for the company from $264.00 to $302.00 in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. FedEx currently has an average rating of “Buy” and an average target price of $272.69.
In related news, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the transaction, the executive vice president now directly owns 187,025 shares in the company, valued at approximately $46,892,778.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Steiner sold 3,016 shares of FedEx stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares in the company, valued at $4,267,442. The disclosure for this sale can be found here. Insiders sold a total of 53,541 shares of company stock worth $13,692,142 over the last 90 days. Insiders own 8.45% of the company’s stock.
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FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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