State of New Jersey Common Pension Fund D reduced its position in FedEx Corporation (NYSE:FDX - Free Report) by 10.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 77,233 shares of the shipping service provider's stock after selling 8,726 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in FedEx were worth $18,828,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in FedEx in the 4th quarter valued at $26,000. Accredited Wealth Management LLC purchased a new stake in shares of FedEx during the 4th quarter worth $35,000. Optiver Holding B.V. purchased a new position in shares of FedEx in the 4th quarter valued at about $39,000. Abound Financial LLC acquired a new stake in shares of FedEx in the first quarter valued at about $38,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at about $43,000. 84.47% of the stock is owned by institutional investors and hedge funds.
FedEx Trading Down 1.6%
NYSE FDX opened at $227.32 on Friday. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The company has a 50-day moving average of $229.41 and a 200-day moving average of $232.09. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The company has a market cap of $53.62 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.20 and a beta of 1.30.
FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter in the prior year, the company earned $5.41 EPS. As a group, equities analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.
FedEx Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, September 8th. FedEx's dividend payout ratio is 34.36%.
Insider Buying and Selling
In related news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the sale, the director owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the sale, the director directly owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
FDX has been the subject of several recent analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $260.00 price objective (down previously from $275.00) on shares of FedEx in a research note on Wednesday, June 25th. Truist Financial reiterated a "buy" rating and issued a $275.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective for the company in a research note on Thursday, July 3rd. Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Bank of America decreased their price objective on shares of FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $283.25.
Get Our Latest Report on FDX
About FedEx
(
Free Report)
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.
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