Treasurer of the State of North Carolina Buys 460 Shares of FedEx Co. (NYSE:FDX)

Treasurer of the State of North Carolina lifted its position in FedEx Co. (NYSE:FDX) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 102,230 shares of the shipping service provider’s stock after purchasing an additional 460 shares during the period. Treasurer of the State of North Carolina’s holdings in FedEx were worth $28,760,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its stake in FedEx by 144.4% in the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. bought a new position in shares of FedEx in the fourth quarter worth $28,000. City Holding Co. purchased a new stake in shares of FedEx in the fourth quarter worth $28,000. Kentucky Trust Co bought a new stake in FedEx during the fourth quarter valued at $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx during the fourth quarter valued at $28,000. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $206.06 on Friday. FedEx Co. has a 1-year low of $194.30 and a 1-year high of $313.84. The firm has a market cap of $49.37 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.11 and a beta of 1.24. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average of $244.94 and a 200-day moving average of $266.13.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the business posted $3.86 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts expect that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s payout ratio is currently 34.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FDX shares. Bank of America decreased their target price on FedEx from $295.00 to $272.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus lowered their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Truist Financial assumed coverage on shares of FedEx in a report on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.63.

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.