California State Teachers Retirement System Sells 46,338 Shares of FedEx Co. (NYSE:FDX)

California State Teachers Retirement System cut its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 14.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 275,879 shares of the shipping service provider's stock after selling 46,338 shares during the period. California State Teachers Retirement System owned about 0.11% of FedEx worth $77,613,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FDX. Vanguard Group Inc. boosted its stake in shares of FedEx by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock valued at $5,682,727,000 after purchasing an additional 56,236 shares in the last quarter. Dodge & Cox raised its stake in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after acquiring an additional 734,268 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of FedEx by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock worth $1,350,686,000 after purchasing an additional 109,006 shares during the period. Franklin Resources Inc. grew its stake in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock worth $1,209,338,000 after purchasing an additional 323,115 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in FedEx by 4.1% in the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock valued at $906,165,000 after purchasing an additional 127,044 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FDX shares. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and decreased their target price for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Raymond James lowered their target price on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Piper Sandler downgraded FedEx to a "neutral" rating in a report on Monday, February 3rd. Stephens dropped their price objective on FedEx from $320.00 to $300.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Finally, Truist Financial lowered their target price on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $297.71.

FedEx Stock Up 4.6 %

Shares of FDX stock traded up $9.60 on Friday, hitting $219.66. The stock had a trading volume of 2,180,047 shares, compared to its average volume of 1,788,822. FedEx Co. has a 12-month low of $194.30 and a 12-month high of $313.84. The stock has a market cap of $52.63 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. The business has a 50 day moving average of $229.46 and a 200 day moving average of $260.32. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

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

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.51%. FedEx's dividend payout ratio is presently 34.63%.

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.