FedEx Co. (NYSE:FDX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in FedEx Co. (NYSE:FDX) by 11.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 215,624 shares of the shipping service provider’s stock after selling 28,776 shares during the period. New York State Teachers Retirement System’s holdings in FedEx were worth $60,661,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new stake in FedEx during the third quarter valued at approximately $97,000. Creative Planning lifted its position in shares of FedEx by 15.7% during the 3rd quarter. Creative Planning now owns 81,696 shares of the shipping service provider’s stock valued at $22,237,000 after acquiring an additional 11,081 shares during the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of FedEx by 4.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 2,901 shares of the shipping service provider’s stock worth $794,000 after acquiring an additional 120 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of FedEx by 1.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 28,799 shares of the shipping service provider’s stock worth $7,882,000 after acquiring an additional 511 shares during the last quarter. Finally, Bfsg LLC lifted its holdings in shares of FedEx by 34.2% during the third quarter. Bfsg LLC now owns 1,025 shares of the shipping service provider’s stock valued at $281,000 after purchasing an additional 261 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.8 %

FedEx stock opened at $267.83 on Friday. The company has a market capitalization of $64.51 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 1.18. The firm’s fifty day simple moving average is $272.65 and its 200-day simple moving average is $279.45. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter last year, the firm earned $3.99 EPS. FedEx’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. FedEx’s payout ratio is presently 35.18%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on FedEx from $368.00 to $364.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. UBS Group lifted their target price on shares of FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. raised their price objective on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. BMO Capital Markets raised their price objective on shares of FedEx from $300.00 to $330.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Loop Capital lowered shares of FedEx from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

Insider Activity at FedEx

In related news, CEO Richard W. Smith sold 2,576 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total value of $713,371.68. Following the transaction, the chief executive officer now directly owns 111,886 shares in the company, valued at approximately $30,984,589.98. This trade represents a 2.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

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.