California Public Employees Retirement System Acquires 7,856 Shares of FedEx Co. (NYSE:FDX)

California Public Employees Retirement System lifted its holdings in FedEx Co. (NYSE:FDX) by 1.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 444,604 shares of the shipping service provider’s stock after purchasing an additional 7,856 shares during the period. California Public Employees Retirement System owned about 0.18% of FedEx worth $112,471,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of FedEx by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,729,110 shares of the shipping service provider’s stock worth $4,961,716,000 after purchasing an additional 59,161 shares during the period. Sentry LLC purchased a new stake in FedEx in the 4th quarter worth approximately $1,811,748,000. FMR LLC increased its holdings in FedEx by 29.1% in the 3rd quarter. FMR LLC now owns 4,063,938 shares of the shipping service provider’s stock worth $1,076,619,000 after acquiring an additional 916,555 shares in the last quarter. Morgan Stanley increased its holdings in FedEx by 1.1% in the 3rd quarter. Morgan Stanley now owns 3,238,185 shares of the shipping service provider’s stock worth $857,860,000 after acquiring an additional 35,085 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in FedEx by 13.6% in the 3rd quarter. Invesco Ltd. now owns 3,004,838 shares of the shipping service provider’s stock worth $796,042,000 after acquiring an additional 360,680 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, EVP Tracy B. Brightman sold 2,550 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $275.69, for a total transaction of $703,009.50. Following the transaction, the executive vice president now owns 6,294 shares in the company, valued at $1,735,192.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Tracy B. Brightman sold 2,550 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $275.69, for a total value of $703,009.50. Following 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 through this link. Also, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $288.02, for a total transaction of $1,769,882.90. Following the completion of the transaction, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,668 shares of company stock valued at $37,758,773. 8.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FDX shares. BNP Paribas reissued an “underperform” rating and issued a $250.00 target price on shares of FedEx in a report on Wednesday, March 27th. The Goldman Sachs Group increased their target price on shares of FedEx from $291.00 to $324.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. UBS Group increased their target price on shares of FedEx from $323.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Robert W. Baird increased their price objective on shares of FedEx from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Melius raised shares of FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $301.33.

FedEx Stock Up 0.6 %

Shares of FDX opened at $271.67 on Wednesday. The company has a market cap of $66.85 billion, a PE ratio of 15.67, a P/E/G ratio of 1.27 and a beta of 1.21. The business has a fifty day moving average of $260.44 and a 200 day moving average of $254.28. FedEx Co. has a 52-week low of $213.80 and a 52-week high of $291.27. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

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

FedEx declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 29.07%.

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.