New York State Common Retirement Fund Reduces Position in FedEx Co. (NYSE:FDX)

New York State Common Retirement Fund cut its stake in shares of FedEx Co. (NYSE:FDX) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,671 shares of the shipping service provider’s stock after selling 29,906 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of FedEx worth $100,624,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Davidson Investment Advisors grew its holdings in shares of FedEx by 1.3% during the fourth quarter. Davidson Investment Advisors now owns 84,127 shares of the shipping service provider’s stock valued at $23,667,000 after buying an additional 1,102 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in FedEx by 57.9% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,540 shares of the shipping service provider’s stock valued at $2,965,000 after purchasing an additional 3,867 shares during the period. Key Financial Inc lifted its position in FedEx by 30.3% during the fourth quarter. Key Financial Inc now owns 254 shares of the shipping service provider’s stock valued at $71,000 after purchasing an additional 59 shares during the period. Cardinal Capital Management lifted its position in FedEx by 0.3% during the fourth quarter. Cardinal Capital Management now owns 16,473 shares of the shipping service provider’s stock valued at $4,657,000 after purchasing an additional 54 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in FedEx during the fourth quarter valued at $86,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Down 0.2 %

Shares of NYSE FDX opened at $267.02 on Thursday. FedEx Co. has a 12-month low of $235.32 and a 12-month high of $313.84. The stock has a market cap of $64.31 billion, a PE ratio of 17.02, a P/E/G ratio of 1.11 and a beta of 1.18. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average of $271.65 and a 200 day moving average of $278.45.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter in the prior year, the company earned $3.99 EPS. FedEx’s revenue was down .7% 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.07%. FedEx’s dividend payout ratio (DPR) is 35.18%.

Insider Activity

In other news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the sale, the director now owns 8,904 shares of the company’s stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Amy B. Lane purchased 333 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the purchase, the director now owns 333 shares in the company, valued at approximately $91,927.98. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens decreased their target price on shares of FedEx from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. Citigroup boosted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on shares of FedEx from $370.00 to $372.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company upped their price objective on shares of FedEx from $305.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has given a strong 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 $321.87.

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.