California State Teachers Retirement System Purchases 55,734 Shares of FedEx Corporation $FDX

California State Teachers Retirement System boosted its position in FedEx Corporation (NYSE:FDX - Free Report) by 21.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 314,348 shares of the shipping service provider's stock after acquiring an additional 55,734 shares during the quarter. California State Teachers Retirement System owned 0.13% of FedEx worth $98,431,789 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FDX. Ameritas Advisory Services LLC lifted its holdings in FedEx by 51.4% in the second quarter. Ameritas Advisory Services LLC now owns 5,125 shares of the shipping service provider's stock worth $1,605,000 after buying an additional 1,739 shares during the period. Wedmont Private Capital grew its holdings in FedEx by 27.7% in the second quarter. Wedmont Private Capital now owns 3,884 shares of the shipping service provider's stock valued at $1,222,000 after purchasing an additional 843 shares during the period. Kintra Wealth LLC grew its stake in shares of FedEx by 39.7% in the 2nd quarter. Kintra Wealth LLC now owns 1,281 shares of the shipping service provider's stock valued at $435,000 after buying an additional 364 shares during the period. Nilsine Partners LLC boosted its stake in shares of FedEx by 5.2% in the 2nd quarter. Nilsine Partners LLC now owns 789 shares of the shipping service provider's stock valued at $247,000 after buying an additional 39 shares during the period. Finally, Saudi Central Bank increased its stake in FedEx by 87.4% in the second quarter. Saudi Central Bank now owns 15,450 shares of the shipping service provider's stock valued at $4,838,000 after purchasing an additional 7,205 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FDX shares. Rothschild & Co Redburn lowered their price objective on FedEx from $375.00 to $344.00 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Bank of America increased their target price on shares of FedEx from $376.00 to $378.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Wall Street Zen raised FedEx to a "hold" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of FedEx from $460.00 to $400.00 and set an "overweight" rating for the company in a report on Tuesday, September 8th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of FedEx in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.17.

FedEx Stock Performance

Shares of FDX traded down $1.95 during mid-day trading on Tuesday, hitting $310.62. The company's stock had a trading volume of 438,371 shares, compared to its average volume of 2,080,334. The firm has a market capitalization of $73.51 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.32. FedEx Corporation has a one year low of $179.50 and a one year high of $345.36. The stock's 50-day moving average is $319.22 and its two-hundred day moving average is $345.99. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion during the quarter. As a group, sell-side analysts anticipate that FedEx Corporation will post 17.55 EPS for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a $1.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx's dividend payout ratio is presently 26.36%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul Walsh sold 5,042 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.65% of the company's stock.

FedEx Company Profile

FedEx Corporation NYSE: FDX is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company's offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.