California Public Employees Retirement System cut its stake in FedEx Co. (NYSE:FDX) by 6.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 518,404 shares of the shipping service provider’s stock after selling 36,674 shares during the period. California Public Employees Retirement System’s holdings in FedEx were worth $94,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of FDX. HC Financial Advisors Inc. lifted its position in FedEx by 5.9% during the third quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock worth $2,007,000 after purchasing an additional 464 shares during the period. Morgan Stanley lifted its position in FedEx by 6.7% during the third quarter. Morgan Stanley now owns 1,683,092 shares of the shipping service provider’s stock worth $405,272,000 after purchasing an additional 105,736 shares during the period. Vanguard Group Inc lifted its position in FedEx by 0.5% during the third quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock worth $4,670,511,000 after purchasing an additional 96,084 shares during the period. Gateway Investment Advisers LLC lifted its position in FedEx by 8.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 13,693 shares of the shipping service provider’s stock worth $2,209,000 after purchasing an additional 1,028 shares during the period. Finally, DNB Asset Management AS lifted its position in FedEx by 13.9% during the fourth quarter. DNB Asset Management AS now owns 37,476 shares of the shipping service provider’s stock worth $6,046,000 after purchasing an additional 4,566 shares during the period. Institutional investors and hedge funds own 71.68% of the company’s stock.

In other news, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $173.30, for a total value of $4,679,100.00. Following the completion of the transaction, the executive vice president now directly owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The disclosure for this sale can be found here. Insiders sold 185,650 shares of company stock valued at $34,751,470 in the last ninety days. 8.50% of the stock is currently owned by insiders.

FDX stock opened at $171.86 on Thursday. The stock has a market capitalization of $44.96 billion, a PE ratio of 11.23, a P/E/G ratio of 0.88 and a beta of 1.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. FedEx Co. has a 12 month low of $150.94 and a 12 month high of $266.67.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). The company had revenue of $17.01 billion during the quarter, compared to the consensus estimate of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $3.72 EPS. As a group, analysts anticipate that FedEx Co. will post 15.44 EPS for the current year.

Several research firms recently weighed in on FDX. UBS Group cut shares of FedEx from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $171.00 to $161.00 in a research report on Friday, April 26th. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 price objective on shares of FedEx in a research report on Monday, April 1st. Berenberg Bank cut shares of FedEx from a “buy” rating to a “hold” rating and cut their price objective for the stock from $245.00 to $200.00 in a research report on Monday, April 1st. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $174.00 price objective on shares of FedEx in a research report on Thursday, March 28th. Finally, Daiwa Capital Markets cut shares of FedEx from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $187.00 to $179.00 in a research report on Thursday, March 21st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $212.33.

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FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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