New York State Common Retirement Fund Cuts Stock Position in FedEx Corporation $FDX

New York State Common Retirement Fund lessened its position in shares of FedEx Corporation (NYSE:FDX) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,615 shares of the shipping service provider’s stock after selling 8,900 shares during the quarter. New York State Common Retirement Fund’s holdings in FedEx were worth $85,744,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FDX. Brighton Jones LLC boosted its position in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares in the last quarter. Empowered Funds LLC increased its position in FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after buying an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in FedEx in the second quarter valued at about $586,000. GC Wealth Management RIA LLC acquired a new stake in FedEx in the second quarter worth about $361,000. Finally, Janney Montgomery Scott LLC boosted its holdings in FedEx by 8.1% in the second quarter. Janney Montgomery Scott LLC now owns 93,348 shares of the shipping service provider’s stock worth $21,219,000 after acquiring an additional 7,004 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

NYSE:FDX opened at $319.42 on Friday. The firm’s fifty day moving average is $292.56 and its two-hundred day moving average is $256.40. The firm has a market cap of $75.10 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.58 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.23 and a current ratio of 1.27. FedEx Corporation has a one year low of $194.29 and a one year high of $319.93.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, December 18th. The shipping service provider reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.80. FedEx had a return on equity of 16.63% and a net margin of 4.81%.The business had revenue of $23.47 billion during the quarter, compared to analyst estimates of $22.79 billion. During the same quarter last year, the business posted $4.05 EPS. The company’s revenue was up 6.8% on a year-over-year basis. FedEx has set its FY 2026 guidance at 17.800-19.000 EPS. Research analysts expect that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th were issued a $1.45 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.80 dividend on an annualized basis and a yield of 1.8%. FedEx’s payout ratio is presently 31.97%.

Analyst Ratings Changes

FDX has been the topic of several recent analyst reports. HSBC upped their price objective on shares of FedEx from $235.00 to $285.00 and gave the company a “hold” rating in a report on Friday, December 19th. Truist Financial upped their price target on shares of FedEx from $285.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Oppenheimer reaffirmed a “market perform” rating on shares of FedEx in a report on Friday, December 19th. Barclays boosted their price objective on shares of FedEx from $320.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Susquehanna reduced their target price on FedEx from $345.00 to $340.00 in a research note on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $303.86.

About FedEx

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.