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

California State Teachers Retirement System decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,879 shares of the shipping service provider’s stock after selling 46,338 shares during the quarter. California State Teachers Retirement System’s holdings in FedEx were worth $77,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in FedEx in the third quarter valued at approximately $465,000. Virtu Financial LLC bought a new stake in shares of FedEx in the third quarter valued at approximately $3,405,000. Aldebaran Financial Inc. raised its stake in FedEx by 8.7% during the 3rd quarter. Aldebaran Financial Inc. now owns 1,120 shares of the shipping service provider’s stock valued at $307,000 after purchasing an additional 90 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of FedEx by 4.2% in the third quarter. SkyView Investment Advisors LLC now owns 1,875 shares of the shipping service provider’s stock valued at $513,000 after buying an additional 76 shares during the period. Finally, Tudor Financial Inc. bought a new stake in shares of FedEx during the third quarter valued at approximately $282,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 0.0 %

Shares of FDX stock opened at $211.48 on Tuesday. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The stock’s fifty day simple moving average is $232.36 and its 200 day simple moving average is $261.42. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $50.67 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the company earned $3.86 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were issued a $1.38 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a yield of 2.61%. FedEx’s payout ratio is 34.63%.

Insider Buying and Selling

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the sale, the chief operating officer now owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FDX. BNP Paribas raised FedEx from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, January 16th. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and dropped their target price for the stock from $283.00 to $221.00 in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Raymond James cut their price objective on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Bank of America decreased their price objective on FedEx from $295.00 to $272.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $297.71.

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.