New York State Teachers Retirement System Has $60.66 Million Stake in FedEx Co. (NYSE:FDX)

New York State Teachers Retirement System trimmed its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 215,624 shares of the shipping service provider's stock after selling 28,776 shares during the period. New York State Teachers Retirement System owned about 0.09% of FedEx worth $60,661,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of FedEx by 473.8% in the third 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 in the last quarter. Franklin Resources Inc. raised its position in FedEx by 8.6% during the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock valued at $1,042,050,000 after buying an additional 314,380 shares during the period. KBC Group NV lifted its stake in 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 boosted its position in FedEx by 2,163.7% during 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 during the period. Finally, Empirical Asset Management LLC purchased a new position in FedEx during the 4th quarter valued at about $49,445,000. Institutional investors and hedge funds own 84.47% of the company's stock.

Wall Street Analyst Weigh In

FDX has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of FedEx from $305.00 to $320.00 and gave the stock an "equal weight" rating in a report on Friday, December 20th. StockNews.com upgraded shares of FedEx from a "hold" rating to a "buy" rating in a report on Friday, December 20th. BMO Capital Markets upped their price target on shares of FedEx from $300.00 to $330.00 and gave the stock a "market perform" rating in a research note on Friday, December 20th. BNP Paribas raised FedEx from a "strong sell" rating to a "strong-buy" rating in a research report on Thursday, January 16th. Finally, Stifel Nicolaus dropped their target price on FedEx from $368.00 to $364.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FedEx has a consensus rating of "Moderate Buy" and a consensus price target of $321.87.

FedEx Stock Performance

FDX traded down $0.44 during midday trading on Wednesday, reaching $267.02. The company's stock had a trading volume of 957,162 shares, compared to its average volume of 1,646,402. FedEx Co. has a twelve month low of $235.32 and a twelve month high of $313.84. The stock has a market cap of $64.31 billion, a P/E ratio of 17.02, a PEG ratio of 1.11 and a beta of 1.18. The company has a fifty day simple moving average of $271.93 and a 200 day simple moving average of $278.53. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.88 by $0.17. The business had revenue of $22 billion for the quarter, compared to analyst estimates of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.99 earnings per share. Research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Monday, March 10th. FedEx's dividend payout ratio (DPR) is presently 35.18%.

Insider Activity at FedEx

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

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.