Retirement Systems of Alabama Lowers Stock Holdings in FedEx Co. (NYSE:FDX)

Retirement Systems of Alabama trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 49,604 shares of the shipping service provider’s stock after selling 337 shares during the period. Retirement Systems of Alabama’s holdings in FedEx were worth $13,576,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. LRI Investments LLC lifted its holdings in shares of FedEx by 8.6% during the second quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock valued at $137,000 after purchasing an additional 36 shares during the last quarter. Ascent Wealth Partners LLC raised its holdings in FedEx by 0.5% in the 2nd quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after acquiring an additional 36 shares during the last quarter. Detalus Advisors LLC raised its holdings in FedEx by 2.4% in the 2nd quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock worth $480,000 after acquiring an additional 37 shares during the last quarter. Sachetta LLC raised its holdings in FedEx by 29.1% in the 2nd quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after acquiring an additional 37 shares during the last quarter. Finally, IVC Wealth Advisors LLC raised its holdings in FedEx by 2.0% in the 3rd quarter. IVC Wealth Advisors LLC now owns 1,948 shares of the shipping service provider’s stock worth $533,000 after acquiring an additional 38 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Down 0.1 %

FDX opened at $283.42 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The firm’s fifty day moving average is $281.30 and its 200 day moving average is $281.36. The stock has a market cap of $69.25 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18.

FedEx (NYSE:FDX) last released its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The firm had revenue of $21.58 billion for the quarter, compared to analysts’ expectations of $21.87 billion. During the same quarter last year, the firm posted $4.55 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, December 9th. FedEx’s dividend payout ratio (DPR) is 34.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FDX. Morgan Stanley lowered shares of FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $215.00 to $200.00 in a report on Friday, September 20th. Robert W. Baird decreased their price objective on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. StockNews.com lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Daiwa America lowered shares of FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Barclays lifted their target price on shares of FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $316.68.

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.