FedEx Co. (FDX) Stake Raised by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in FedEx Co. (NYSE:FDX) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 619,555 shares of the shipping service provider’s stock after purchasing an additional 28,336 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of FedEx worth $139,759,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Krilogy Financial LLC raised its stake in FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares during the period. Alexandria Capital LLC raised its stake in FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after acquiring an additional 13 shares during the period. Salem Investment Counselors Inc. raised its stake in FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares during the period. IHT Wealth Management LLC raised its stake in FedEx by 0.7% during the first quarter. IHT Wealth Management LLC now owns 2,244 shares of the shipping service provider’s stock worth $440,000 after acquiring an additional 15 shares during the period. Finally, RNC Capital Management LLC raised its stake in FedEx by 0.8% during the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock worth $434,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 75.60% of the company’s stock.

FedEx Co. (NYSE:FDX) opened at $250.02 on Friday. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $255.11. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. The company has a market cap of $67,017.94, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.52 and a beta of 1.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping the consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. FedEx’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.80 EPS. sell-side analysts forecast that FedEx Co. will post 12.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio (DPR) is presently 18.43%.

Several equities research analysts recently weighed in on the stock. Cowen reiterated an “outperform” rating and set a $240.00 price objective on shares of FedEx in a research note on Friday, October 13th. Oppenheimer reiterated a “buy” rating and set a $265.00 price objective (up previously from $236.00) on shares of FedEx in a research note on Wednesday. Citigroup reiterated a “buy” rating and set a $235.00 price objective on shares of FedEx in a research note on Thursday, September 14th. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Bank of America reiterated a “buy” rating and set a $240.00 price objective on shares of FedEx in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $251.59.

In other news, Director Kim Jabal sold 3,980 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the transaction, the director now directly owns 6,080 shares in the company, valued at $1,371,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the transaction, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders sold 34,064 shares of company stock valued at $7,820,036 over the last quarter. Insiders own 8.45% of the company’s stock.

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About FedEx

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.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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