State of New Jersey Common Pension Fund D Sells 742 Shares of FedEx Co. (NYSE:FDX)

State of New Jersey Common Pension Fund D decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,959 shares of the shipping service provider’s stock after selling 742 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FedEx were worth $24,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. International Assets Investment Management LLC raised its position in FedEx by 473.8% during the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after purchasing an additional 647,926 shares during the last quarter. Franklin Resources Inc. raised its position in shares of FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock worth $1,042,050,000 after acquiring an additional 314,380 shares in the last quarter. KBC Group NV raised its position in shares of FedEx by 197.4% in the 4th quarter. KBC Group NV now owns 341,390 shares of the shipping service provider’s stock worth $96,043,000 after acquiring an additional 226,608 shares in the last quarter. World Investment Advisors LLC raised its position in shares of FedEx by 2,163.7% in the 3rd quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider’s stock worth $52,667,000 after acquiring an additional 183,940 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new position in shares of FedEx in the 4th quarter worth approximately $49,445,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 1.8 %

FDX stock opened at $267.83 on Monday. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84. The business’s 50-day moving average is $272.40 and its two-hundred day moving average is $279.08. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company has a market cap of $64.51 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 1.18.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same quarter in the prior year, the company earned $3.99 earnings per share. FedEx’s revenue was down .7% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, March 10th. FedEx’s payout ratio is 35.18%.

Insiders Place Their Bets

In related news, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $276.06 per share, for a total transaction of $91,927.98. Following the completion of the transaction, the director now directly owns 333 shares in the company, valued at $91,927.98. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total value of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares of the company’s stock, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of several research reports. Barclays increased their target price on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Bank of America increased their target price on FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. TD Cowen upped their price target on FedEx from $328.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Loop Capital downgraded FedEx from a “buy” rating to a “hold” rating and cut their price target for the stock from $365.00 to $283.00 in a research note on Monday, February 3rd. Finally, UBS Group upped their price target on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $321.87.

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.