California Public Employees Retirement System Grows Stock Holdings in FedEx Corporation $FDX

California Public Employees Retirement System grew its stake in FedEx Corporation (NYSE:FDX) by 13.5% during the first quarter, Holdings Channel.com reports. The fund owned 453,329 shares of the shipping service provider’s stock after purchasing an additional 54,007 shares during the quarter. California Public Employees Retirement System’s holdings in FedEx were worth $161,467,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FDX. Brighton Jones LLC raised its position in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 207 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after buying an additional 4,548 shares during the period. Sivia Capital Partners LLC bought a new position in shares of FedEx during the 2nd quarter worth $586,000. Quantbot Technologies LP purchased a new position in shares of FedEx during the second quarter valued at $186,000. Finally, Jump Financial LLC purchased a new position in shares of FedEx during the second quarter valued at $456,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FDX shares. Barclays lowered their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a research report on Wednesday, June 24th. The Goldman Sachs Group reduced their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a report on Monday, June 1st. Bank of America upped their price target on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of FedEx in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Price Performance

FDX opened at $313.17 on Friday. The business’s 50-day moving average is $342.12 and its two-hundred day moving average is $349.22. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The firm has a market capitalization of $74.72 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 23rd. The shipping service provider reported $6.31 EPS for the quarter, topping analysts’ consensus estimates of $5.91 by $0.40. The business had revenue of $25.01 billion during the quarter, compared to the consensus estimate of $24.04 billion. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.07 earnings per share. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. Research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s payout ratio is 26.36%.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by insiders.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.