Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,266 Shares of FedEx Co. (NYSE:FDX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in FedEx Co. (NYSE:FDX) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 47,794 shares of the shipping service provider’s stock after selling 1,266 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in FedEx were worth $13,446,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. bLong Financial LLC acquired a new stake in shares of FedEx in the 4th quarter valued at about $391,000. Virtu Financial LLC purchased a new position in shares of FedEx during the third quarter valued at approximately $3,405,000. Lodestone Wealth Management LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $461,000. Wedmont Private Capital boosted its position in shares of FedEx by 4.1% during the fourth quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after buying an additional 91 shares during the last quarter. Finally, GFS Advisors LLC purchased a new position in shares of FedEx during the fourth quarter valued at approximately $26,855,000. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on FDX shares. Sanford C. Bernstein cut FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research report on Tuesday, December 3rd. Piper Sandler cut FedEx to a “neutral” rating in a research report on Monday, February 3rd. Raymond James cut FedEx from an “outperform” rating to a “market perform” rating in a research report on Monday, February 3rd. Citigroup cut their price objective on FedEx from $347.00 to $317.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Stephens cut their price objective on FedEx from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average target price of $317.48.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was purchased at an average price of $273.98 per share, with a total value of $273,980.00. Following the completion of the acquisition, the executive vice president now directly owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $246.00 on Friday. The firm has a market capitalization of $59.25 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock’s 50-day simple moving average is $260.76 and its two-hundred day simple moving average is $273.11. FedEx Co. has a twelve month low of $228.37 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. FedEx’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.86 earnings per share. As a group, equities analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is currently 35.18%.

About FedEx

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.