California State Teachers Retirement System grew its holdings in FedEx Co. (NYSE:FDX) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445,640 shares of the shipping service provider’s stock after purchasing an additional 24,402 shares during the quarter. California State Teachers Retirement System’s holdings in FedEx were worth $111,205,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Krilogy Financial LLC lifted its stake in FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares in the last quarter. RNC Capital Management LLC raised its position in shares of FedEx by 0.8% during the 2nd quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after buying an additional 15 shares during the period. High Falls Advisors Inc raised its position in shares of FedEx by 2.1% during the 2nd quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock valued at $244,000 after buying an additional 23 shares during the period. Ingalls & Snyder LLC raised its position in shares of FedEx by 2.4% during the 4th quarter. Ingalls & Snyder LLC now owns 8,119 shares of the shipping service provider’s stock valued at $2,026,000 after buying an additional 193 shares during the period. Finally, Greenwood Gearhart Inc. raised its position in shares of FedEx by 0.6% during the 2nd quarter. Greenwood Gearhart Inc. now owns 32,605 shares of the shipping service provider’s stock valued at $7,086,000 after buying an additional 195 shares during the period. 74.65% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. Bank of America reaffirmed a “buy” rating and set a $315.00 price target on shares of FedEx in a research report on Friday, January 12th. Wells Fargo & Co set a $275.00 price target on shares of FedEx and gave the company a “buy” rating in a research report on Wednesday, December 20th. Oppenheimer reaffirmed a “buy” rating and set a $265.00 price target (up previously from $236.00) on shares of FedEx in a research report on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $297.00 price target on the stock in a research report on Friday, January 5th. Finally, Sanford C. Bernstein raised shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price target on the stock in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $275.04.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 earnings per share. equities research analysts expect that FedEx Co. will post 13.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.81%. FedEx’s dividend payout ratio (DPR) is 18.43%.
In other FedEx news, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares in the company, valued at $46,892,778.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David P. Steiner sold 3,016 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,541 shares of company stock valued at $13,692,142. Insiders own 8.45% of the company’s stock.
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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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