New York State Teachers Retirement System Decreases Position in FedEx Corporation (FDX)
New York State Teachers Retirement System lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 432,083 shares of the shipping service provider’s stock after selling 7,088 shares during the period. New York State Teachers Retirement System owned about 0.16% of FedEx Corporation worth $84,321,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Bank of The West boosted its position in FedEx Corporation by 2.3% in the first quarter. Bank of The West now owns 5,885 shares of the shipping service provider’s stock valued at $1,148,000 after buying an additional 135 shares during the last quarter. DnB Asset Management AS boosted its position in FedEx Corporation by 10.8% in the first quarter. DnB Asset Management AS now owns 27,810 shares of the shipping service provider’s stock valued at $5,427,000 after buying an additional 2,700 shares during the last quarter. First Financial Corp IN boosted its position in FedEx Corporation by 358.7% in the first quarter. First Financial Corp IN now owns 1,023 shares of the shipping service provider’s stock valued at $200,000 after buying an additional 800 shares during the last quarter. Cohen Capital Management Inc. bought a new position in FedEx Corporation during the first quarter valued at $185,000. Finally, Vicus Capital boosted its position in FedEx Corporation by 26.2% in the first quarter. Vicus Capital now owns 1,851 shares of the shipping service provider’s stock valued at $361,000 after buying an additional 384 shares during the last quarter. 76.00% of the stock is owned by hedge funds and other institutional investors.
Shares of FedEx Corporation (NYSE FDX) traded up 0.31% during trading on Friday, hitting $206.00. 930,437 shares of the company were exchanged. The firm has a market capitalization of $55.26 billion, a PE ratio of 18.61 and a beta of 1.27. The firm’s 50-day moving average price is $211.69 and its 200 day moving average price is $199.13. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The firm had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter last year, the company earned $3.30 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that FedEx Corporation will post $13.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.97%. FedEx Corporation’s dividend payout ratio is currently 18.08%.
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Several research analysts have recently weighed in on the stock. Cowen and Company reissued a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a report on Tuesday, July 11th. Loop Capital reissued a “buy” rating and set a $234.00 price objective on shares of FedEx Corporation in a report on Tuesday, July 4th. Sanford C. Bernstein reissued a “market perform” rating and set a $220.00 price objective on shares of FedEx Corporation in a report on Monday, July 3rd. Vetr cut shares of FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price objective for the company. in a report on Monday, June 26th. Finally, BMO Capital Markets boosted their price objective on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. FedEx Corporation has an average rating of “Buy” and an average target price of $221.78.
In related news, EVP Robert B. Carter sold 24,522 shares of FedEx Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total value of $5,173,161.12. Following the sale, the executive vice president now owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Insiders sold a total of 77,757 shares of company stock worth $16,447,426 in the last three months. 8.67% of the stock is owned by corporate insiders.
About FedEx Corporation
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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