New York State Teachers Retirement System Reduces Stock Holdings in FedEx Co. (NYSE:FDX)

New York State Teachers Retirement System decreased its holdings in FedEx Co. (NYSE:FDX) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,400 shares of the shipping service provider’s stock after selling 10,023 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of FedEx worth $66,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC purchased a new stake in FedEx in the third quarter worth $31,000. Highview Capital Management LLC DE raised its holdings in FedEx by 10.0% in the third quarter. Highview Capital Management LLC DE now owns 4,372 shares of the shipping service provider’s stock worth $1,197,000 after purchasing an additional 396 shares in the last quarter. Tyche Wealth Partners LLC raised its holdings in FedEx by 2.5% in the third quarter. Tyche Wealth Partners LLC now owns 2,039 shares of the shipping service provider’s stock worth $558,000 after purchasing an additional 50 shares in the last quarter. Wells Trecaso Financial Group LLC raised its holdings in FedEx by 0.3% in the third quarter. Wells Trecaso Financial Group LLC now owns 22,508 shares of the shipping service provider’s stock worth $6,160,000 after purchasing an additional 58 shares in the last quarter. Finally, SFE Investment Counsel raised its holdings in FedEx by 4.6% in the third quarter. SFE Investment Counsel now owns 12,387 shares of the shipping service provider’s stock worth $3,390,000 after purchasing an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Down 0.3 %

Shares of NYSE:FDX opened at $274.30 on Thursday. The stock has a market capitalization of $67.02 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.28. The stock’s 50-day simple moving average is $277.96 and its two-hundred day simple moving average is $274.91. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 earnings per share. Analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.01%. FedEx’s payout ratio is currently 34.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America decreased their price objective on FedEx from $347.00 to $345.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Citigroup assumed coverage on FedEx in a report on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price objective for the company. Raymond James decreased their price objective on FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a report on Friday, September 20th. Daiwa America downgraded FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.17.

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.