New York State Teachers Retirement System Reduces Stock Position in FedEx Co. (NYSE:FDX)

New York State Teachers Retirement System lessened its stake in shares of FedEx Co. (NYSE:FDX) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,624 shares of the shipping service provider’s stock after selling 28,776 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of FedEx worth $60,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC increased its position in FedEx by 20.9% during the 4th quarter. V Square Quantitative Management LLC now owns 3,149 shares of the shipping service provider’s stock worth $886,000 after purchasing an additional 545 shares in the last quarter. Vontobel Holding Ltd. increased its position in FedEx by 4.6% during the 4th quarter. Vontobel Holding Ltd. now owns 30,124 shares of the shipping service provider’s stock worth $8,475,000 after purchasing an additional 1,325 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in FedEx by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 97,351 shares of the shipping service provider’s stock worth $27,293,000 after buying an additional 2,632 shares during the last quarter. Avestar Capital LLC boosted its stake in FedEx by 10.3% in the 4th quarter. Avestar Capital LLC now owns 1,383 shares of the shipping service provider’s stock worth $391,000 after buying an additional 129 shares during the last quarter. Finally, Hemington Wealth Management boosted its stake in FedEx by 27.4% in the 4th quarter. Hemington Wealth Management now owns 209 shares of the shipping service provider’s stock worth $58,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE:FDX opened at $267.83 on Friday. FedEx Co. has a one year low of $234.45 and a one year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $64.51 billion, a P/E ratio of 17.07, a PEG ratio of 1.07 and a beta of 1.18. The business’s 50-day simple moving average is $272.65 and its 200 day simple moving average is $279.45.

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

FedEx Dividend Announcement

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

Wall Street Analyst Weigh In

FDX has been the topic of a number of research analyst reports. Barclays raised their price target on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company raised their price target on FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Stifel Nicolaus decreased 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. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Finally, TD Cowen lifted their price objective on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.87.

Insiders Place Their Bets

In other news, Director Susan C. Schwab sold 3,980 shares of the 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 sale, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was bought at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.87% of the stock is owned by corporate insiders.

FedEx Company 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.