State of New Jersey Common Pension Fund D Sells 48,772 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 36.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,701 shares of the shipping service provider’s stock after selling 48,772 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in FedEx were worth $25,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in shares of FedEx during the 4th quarter valued at $25,000. Fortis Group Advisors LLC lifted its holdings in shares of FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Private Wealth Management Group LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Sachetta LLC purchased a new position in FedEx during the fourth quarter valued at approximately $32,000. Finally, Central Valley Advisors LLC bought a new stake in FedEx during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Trading Up 0.5 %

Shares of FDX stock opened at $286.16 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 1.32. The business has a 50-day moving average of $293.32 and a 200 day moving average of $273.05. The stock has a market capitalization of $70.42 billion, a PE ratio of 16.61, a P/E/G ratio of 1.03 and a beta of 1.17. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The firm had revenue of $22.11 billion for the quarter, compared to analysts’ expectations of $22.04 billion. During the same quarter last year, the business earned $4.94 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that FedEx Co. will post 20.82 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Monday, September 9th. FedEx’s dividend payout ratio (DPR) is 32.04%.

Insider Transactions at FedEx

In other FedEx news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the completion of the transaction, the chief executive officer now owns 12,246 shares of the company’s stock, valued at approximately $3,797,974.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sriram Krishnasamy sold 8,421 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total transaction of $2,611,688.94. Following the transaction, the chief executive officer now directly owns 12,246 shares of the company’s stock, valued at $3,797,974.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the completion of the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,944 shares of company stock worth $9,882,355. Company insiders own 8.73% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of recent analyst reports. Argus boosted their price target on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. The Goldman Sachs Group boosted their target price on FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Robert W. Baird upped their target price on FedEx from $325.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Bank of America lifted their price target on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $327.00 price objective (up from $303.00) on shares of FedEx in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.67.

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.