FedEx Co. (NYSE:FDX) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in shares of FedEx Co. (NYSE:FDX) by 14.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 approximately 0.11% of FedEx worth $77,613,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FDX. Fortitude Family Office LLC increased its holdings in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the period. Transce3nd LLC purchased a new stake in FedEx in the fourth quarter valued at $26,000. Peoples Financial Services CORP. acquired a new stake in shares of FedEx during the fourth quarter worth about $28,000. City Holding Co. purchased a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Finally, Kentucky Trust Co acquired a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Down 0.0 %

Shares of NYSE FDX opened at $211.48 on Tuesday. The firm has a fifty day moving average of $232.36 and a 200-day moving average of $261.42. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84. The stock has a market capitalization of $50.67 billion, a PE ratio of 13.48, a P/E/G ratio of 1.11 and a beta of 1.24.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the company posted $3.86 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were paid a dividend of $1.38 per share. The ex-dividend date was Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.61%. FedEx’s payout ratio is 34.63%.

Analysts Set New Price Targets

FDX has been the subject of several recent research reports. Raymond James decreased 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. Loop Capital cut shares of FedEx from a “hold” rating to a “sell” rating and reduced their target price for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Piper Sandler lowered shares of FedEx to a “neutral” rating in a research note on Monday, February 3rd. Stifel Nicolaus reduced their price objective on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Truist Financial cut their target price on FedEx from $305.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $297.71.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The shares were 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 $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.87% of the stock is owned by company insiders.

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.