FedEx Co. (NYSE:FDX) Shares Acquired by TIAA Trust National Association

TIAA Trust National Association lifted its position in shares of FedEx Co. (NYSE:FDX) by 2.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 47,924 shares of the shipping service provider’s stock after buying an additional 1,170 shares during the period. TIAA Trust National Association’s holdings in FedEx were worth $13,886,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in FedEx in the 4th quarter valued at about $25,000. Fortis Group Advisors LLC grew its holdings in FedEx by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Financial Management Professionals Inc. increased its position in FedEx by 143.2% during the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock worth $27,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in FedEx during the fourth quarter worth approximately $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of FedEx in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

FedEx stock traded down $0.31 during mid-day trading on Friday, reaching $306.31. The company’s stock had a trading volume of 1,294,627 shares, compared to its average volume of 2,671,847. The firm has a market cap of $74.83 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.11 and a beta of 1.18. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84. The business has a 50 day moving average price of $268.99 and a 200-day moving average price of $260.56. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, beating the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The business had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the previous year, the business posted $4.94 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Monday, June 24th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.80%. This is a boost from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Activity

In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at approximately $17,634,640.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Robert B. Carter sold 16,010 shares of FedEx stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares in the company, valued at $17,634,640.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $310.43, for a total transaction of $607,821.94. Following the sale, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America upped their price objective on FedEx from $340.00 to $347.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. TD Cowen upped their price target on FedEx from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Evercore ISI reduced their price objective on FedEx from $351.00 to $318.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. UBS Group reduced their target price on shares of FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $296.00 to $359.00 in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.00.

FedEx Company Profile

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.