FedEx Corporation $FDX Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in FedEx Corporation (NYSE:FDX) by 20.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 70,762 shares of the shipping service provider’s stock after acquiring an additional 11,861 shares during the period. Illinois Municipal Retirement Fund’s holdings in FedEx were worth $20,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FDX. Brighton Jones LLC boosted its holdings in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 207 shares during the last quarter. Empowered Funds LLC boosted its holdings in FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after purchasing an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in FedEx in the 2nd quarter valued at about $586,000. Quantbot Technologies LP acquired a new position in FedEx in the 2nd quarter valued at about $186,000. Finally, Jump Financial LLC acquired a new position in FedEx in the 2nd quarter valued at about $456,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In related news, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares of the company’s stock, valued at $3,704,022. This represents a 36.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the sale, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,104 shares of company stock valued at $17,599,006 in the last 90 days. Corporate insiders own 0.53% of the company’s stock.

More FedEx News

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx pilots ratified a new labor contract, ending a long dispute and reducing uncertainty around one major operating issue for the company. FedEx pilots ratify new wage deal, union says
• Positive Sentiment: FedEx also updated its annual dividend after the FedEx Freight spin-off, reinforcing shareholder returns and signaling management confidence in cash generation. FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
• Neutral Sentiment: Commentary from Jim Cramer and a Zacks value-stock note were supportive of FedEx’s long-term investment case, but they are not major fundamental catalysts on their own. Jim Cramer Says “I’m Proud That We Held on to Our FedEx Freight” Here’s Why FedEx (FDX) is a Strong Value Stock
• Neutral Sentiment: FedEx’s structural changes, including the Freight spin-off and an air-logistics partnership in Asia Pacific, may help the business over time but are not immediate stock-moving catalysts. FedEx Reshapes Freight And Asia Pacific Strategy As Valuation Gap Persists
• Negative Sentiment: Amazon’s expanded trucking and less-than-truckload service is sparking a selloff across transport stocks and creating fresh competitive pressure for FedEx and other logistics companies. Amazon’s Trucking Push Sparks New Slide in Transport Stocks
• Negative Sentiment: Old Dominion, Saia, and XPO fell sharply after Amazon opened its less-than-truckload service more broadly, highlighting investor concern that Amazon could intensify competition in freight markets relevant to FedEx. Amazon LTL expansion hits Old Dominion, Saia, and FedEx Freight stocks

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FDX shares. Wall Street Zen upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $432.00 to $460.00 in a research note on Wednesday, May 27th. Wolfe Research reduced their price target on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Barclays raised shares of FedEx from an “overweight” rating to an “overweight” rating in a research note on Wednesday, May 27th. Finally, BNP Paribas Exane reduced their price target on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.41.

FedEx Price Performance

FedEx stock opened at $319.70 on Thursday. The company’s 50 day simple moving average is $372.63 and its 200-day simple moving average is $342.19. The company has a market capitalization of $76.28 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $341.14. 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) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. During the same period in the previous year, the firm earned $4.51 EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts expect that FedEx Corporation will post 19.72 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s dividend payout ratio is presently 30.87%.

About FedEx

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.