FedEx Co. (NYSE:FDX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of FedEx Co. (NYSE:FDX) by 5.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 426,226 shares of the shipping service provider’s stock after selling 24,812 shares during the quarter. New York State Common Retirement Fund owned about 0.17% of FedEx worth $107,822,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. lifted its stake in shares of FedEx by 143.2% in the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $30,000. Tennessee Valley Asset Management Partners purchased a new position in FedEx during the fourth quarter worth approximately $31,000. Planned Solutions Inc. purchased a new position in FedEx during the fourth quarter worth approximately $32,000. Finally, Valley National Advisers Inc. boosted its stake in FedEx by 123.3% during the fourth quarter. Valley National Advisers Inc. now owns 134 shares of the shipping service provider’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America reduced their price target on FedEx from $346.00 to $340.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. UBS Group boosted their target price on shares of FedEx from $323.00 to $340.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Stifel Nicolaus reduced their price target on shares of FedEx from $306.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Robert W. Baird raised their target price on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $301.33.

Insider Activity

In other news, CEO Sriram Krishnasamy sold 354 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FedEx news, EVP Tracy B. Brightman sold 2,550 shares of FedEx stock in a transaction on Monday, April 8th. The stock was sold at an average price of $275.69, for a total value of $703,009.50. Following the completion of the transaction, the executive vice president now owns 6,294 shares in the company, valued at approximately $1,735,192.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sriram Krishnasamy sold 354 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $289.19, for a total value of $102,373.26. Following the sale, the chief executive officer now owns 11,147 shares in the company, valued at approximately $3,223,600.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,668 shares of company stock worth $37,758,773. 8.73% of the stock is currently owned by corporate insiders.

FedEx Trading Up 0.9 %

NYSE FDX traded up $2.34 on Tuesday, hitting $272.49. 340,879 shares of the company were exchanged, compared to its average volume of 2,049,979. FedEx Co. has a twelve month low of $213.80 and a twelve month high of $291.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.31 and a quick ratio of 1.26. The firm has a market capitalization of $67.05 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company’s 50 day moving average price is $259.74 and its 200-day moving average price is $254.18.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. The firm had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.95 billion. FedEx had a net margin of 5.02% and a return on equity of 16.60%. FedEx’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.41 earnings per share. Analysts predict that FedEx Co. will post 17.67 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $1.26 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.85%. FedEx’s dividend payout ratio is currently 29.07%.

FedEx announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the shipping service provider to buy up to 7.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.