FedEx Corporation (NYSE:FDX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in FedEx Corporation (NYSE:FDX - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 202,183 shares of the shipping service provider's stock after selling 13,441 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of FedEx worth $49,288,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of FedEx by 0.3% in 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 during the period. Dodge & Cox lifted its holdings in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after buying an additional 734,268 shares in the last quarter. Geode Capital Management LLC boosted its position in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after buying an additional 109,006 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after acquiring an additional 323,115 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of FedEx by 4.1% during the fourth quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after acquiring an additional 127,044 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup reduced their price target on FedEx from $267.00 to $259.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Raymond James Financial reissued an "outperform" rating and set a $260.00 price target (down previously from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 price target on the stock. Sanford C. Bernstein decreased their price objective on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a report on Friday, June 13th. Finally, Barclays restated an "overweight" rating and issued a $320.00 target price (down previously from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $283.00.

FedEx Stock Performance

Shares of NYSE FDX traded up $7.16 during midday trading on Tuesday, hitting $234.47. 2,720,558 shares of the company's stock were exchanged, compared to its average volume of 1,845,053. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $313.84. 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 firm has a market cap of $56.18 billion, a P/E ratio of 13.89, a PEG ratio of 1.20 and a beta of 1.35. The stock's 50 day moving average price is $220.63 and its 200-day moving average price is $242.02.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly 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. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same quarter in the previous year, the firm posted $5.41 EPS. Equities research analysts anticipate that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.47%. FedEx's dividend payout ratio (DPR) is presently 36.39%.

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.