Today: The State of New Jersey Common Pension Fund D Sold shares of FedEx Corp. (FDX)

The State of New Jersey Common Pension Fund D Sold shares of FedEx Corp. (FDX)

State of New Jersey Common Pension Fund D reduced its stake in shares of FedEx Corp. (NYSE:FDX) by 34.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 285,000 shares of the shipping service provider’s stock after selling 150,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FedEx Corp. were worth $43,257,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Invictus RG acquired a new position in FedEx Corp. during the first quarter valued at approximately $161,000. Beese Fulmer Investment Management Inc. increased its position in FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock valued at $200,000 after buying an additional 32 shares during the period. Financial Architects Inc increased its position in FedEx Corp. by 56.2% in the second quarter. Financial Architects Inc now owns 1,465 shares of the shipping service provider’s stock valued at $222,000 after buying an additional 527 shares during the period. Investors Capital Advisory Services increased its position in FedEx Corp. by 4.6% in the second quarter. Investors Capital Advisory Services now owns 1,493 shares of the shipping service provider’s stock valued at $226,000 after buying an additional 66 shares during the period. Finally, Smithfield Trust Co. increased its position in FedEx Corp. by 3.3% in the second quarter. Smithfield Trust Co. now owns 1,491 shares of the shipping service provider’s stock valued at $227,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 73.67% of the company’s stock.

Shares of FedEx Corp. (NYSE:FDX) traded down 0.09% during mid-day trading on Friday, hitting $174.25. 1,502,716 shares of the stock traded hands. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $177.36. The stock has a market cap of $46.31 billion, a price-to-earnings ratio of 26.06 and a beta of 1.28. The firm’s 50-day moving average is $170.47 and its 200-day moving average is $164.30.

FedEx Corp. (NYSE:FDX) last released its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 EPS. On average, analysts forecast that FedEx Corp. will post $12.14 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were given a $0.40 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. FedEx Corp.’s payout ratio is 23.99%.

FDX has been the topic of several research reports. Vetr downgraded shares of FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 price target on the stock. in a research note on Monday, August 8th. Stifel Nicolaus increased their price objective on shares of FedEx Corp. from $179.00 to $186.00 and gave the stock a “buy” rating in a research note on Wednesday, September 21st. Barclays PLC reiterated a “buy” rating and set a $205.00 price objective on shares of FedEx Corp. in a research note on Monday, September 19th. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a research note on Thursday, September 22nd. Finally, Zacks Investment Research upgraded shares of FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $176.59.

In related news, EVP Christine P. Richards sold 80,080 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $173.59, for a total value of $13,901,087.20. Following the completion of the sale, the executive vice president now owns 98,620 shares in the company, valued at approximately $17,119,445.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Henry J. Maier sold 5,213 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $176.65, for a total value of $920,876.45. Following the completion of the sale, the insider now owns 27,720 shares of the company’s stock, valued at approximately $4,896,738. The disclosure for this sale can be found here. 8.67% of the stock is owned by corporate insiders.

About FedEx Corp.

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.

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