VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 143,550 FedEx Corporation $FDX

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 143,550 shares of the shipping service provider’s stock, valued at approximately $44,950,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.06% of FedEx as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in FedEx by 37,961.3% during the second quarter. California State Teachers Retirement System now owns 98,431,789 shares of the shipping service provider’s stock valued at $30,821,946,000 after purchasing an additional 98,173,175 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of FedEx during the second quarter worth $6,508,103,000. Primecap Management Co. CA bought a new position in shares of FedEx in the 2nd quarter worth about $2,554,138,000. Norges Bank acquired a new position in shares of FedEx in the 4th quarter valued at about $859,085,000. Finally, Boston Partners acquired a new position in shares of FedEx in the 3rd quarter valued at about $468,195,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Paul Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $322.11 on Monday. The firm’s 50 day moving average is $319.36 and its two-hundred day moving average is $348.92. FedEx Corporation has a 52 week low of $177.65 and a 52 week high of $345.36. The firm has a market capitalization of $76.23 billion, a P/E ratio of 17.40, a PEG ratio of 1.71 and a beta of 1.32. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. Analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio is presently 26.36%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FDX shares. TD Cowen dropped their price objective on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Truist Financial decreased their target price on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Jefferies Financial Group initiated coverage on FedEx in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 target price for the company. Stephens upgraded FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Citigroup started coverage on FedEx in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $350.54.

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.