FedEx Corporation (FDX) Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of FedEx Corporation (NYSE:FDX) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,000 shares of the shipping service provider’s stock after selling 55,000 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of FedEx Corporation worth $47,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cribstone Capital Management LLC raised its holdings in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America raised its holdings in shares of FedEx Corporation by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after purchasing an additional 9 shares during the period. Brick & Kyle Associates raised its holdings in shares of FedEx Corporation by 1.5% in the 1st quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after purchasing an additional 10 shares during the period. Park National Corp OH raised its holdings in shares of FedEx Corporation by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after purchasing an additional 10 shares during the period. Finally, Argent Trust Co raised its holdings in shares of FedEx Corporation by 0.3% in the 1st quarter. Argent Trust Co now owns 4,516 shares of the shipping service provider’s stock worth $882,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 75.86% of the company’s stock.

FDX has been the topic of a number of research reports. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective on the stock in a report on Wednesday, May 17th. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Tuesday, May 23rd. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Seaport Global Securities initiated coverage on FedEx Corporation in a report on Tuesday, June 6th. They issued a “neutral” rating on the stock. Finally, Stifel Nicolaus raised their price objective on FedEx Corporation from $194.00 to $216.00 and gave the stock a “hold” rating in a report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $221.72.

In related news, VP John L. Merino sold 7,200 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the transaction, the vice president now directly owns 33,908 shares in the company, valued at $7,163,404.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total value of $3,706,215.00. Following the transaction, the chief executive officer now owns 29,148 shares in the company, valued at $6,150,228. The disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock worth $16,447,426 over the last 90 days. Corporate insiders own 8.45% of the company’s stock.

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FedEx Corporation (FDX) opened at 215.54 on Wednesday. The firm has a market cap of $57.82 billion, a price-to-earnings ratio of 19.47 and a beta of 1.28. The stock has a 50 day moving average price of $209.41 and a 200 day moving average price of $201.46. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The firm had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. During the same period in the previous year, the company posted $3.30 earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities analysts expect that FedEx Corporation will post $13.53 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.93%. FedEx Corporation’s dividend payout ratio is 18.08%.

FedEx Corporation Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

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Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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