New York State Common Retirement Fund Has $106.07 Million Stock Holdings in FedEx Co. (NYSE:FDX)

New York State Common Retirement Fund trimmed its position in FedEx Co. (NYSE:FDX) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 387,577 shares of the shipping service provider’s stock after selling 21,400 shares during the quarter. New York State Common Retirement Fund owned approximately 0.16% of FedEx worth $106,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Evermay Wealth Management LLC lifted its position in shares of FedEx by 72.7% in the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock valued at $26,000 after buying an additional 40 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in FedEx in the 3rd quarter valued at $31,000. Central Valley Advisors LLC acquired a new stake in FedEx during the 2nd quarter valued at $39,000. Abound Wealth Management boosted its position in FedEx by 175.9% during the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after purchasing an additional 95 shares during the period. Finally, Sachetta LLC raised its position in shares of FedEx by 29.1% in the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock valued at $49,000 after purchasing an additional 37 shares during the period. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock opened at $274.34 on Friday. The company’s 50 day moving average price is $277.10 and its two-hundred day moving average price is $274.96. The firm has a market capitalization of $67.03 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.10 and a beta of 1.17. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. FedEx Co. has a fifty-two week low of $234.45 and a fifty-two week high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 EPS. On average, equities analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. HSBC downgraded shares of FedEx from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a report on Friday, September 20th. Citigroup began coverage on FedEx in a report on Wednesday, October 9th. They set a “buy” rating and a $301.00 price objective for the company. Susquehanna decreased their target price on FedEx from $345.00 to $330.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Evercore ISI dropped their price target on FedEx from $335.00 to $318.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Finally, Morgan Stanley lowered FedEx from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $215.00 to $200.00 in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.