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

TIAA Trust National Association lessened its holdings in FedEx Co. (NYSE:FDX) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,517 shares of the shipping service provider’s stock after selling 239 shares during the quarter. TIAA Trust National Association’s holdings in FedEx were worth $4,928,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FDX. United Bank acquired a new position in FedEx during the third quarter valued at $615,000. Quest Partners LLC acquired a new position in shares of FedEx in the 3rd quarter valued at about $123,000. Kingsview Wealth Management LLC lifted its holdings in shares of FedEx by 9.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 3,014 shares of the shipping service provider’s stock valued at $825,000 after buying an additional 259 shares during the period. Penserra Capital Management LLC boosted its stake in shares of FedEx by 139.7% in the third quarter. Penserra Capital Management LLC now owns 2,567 shares of the shipping service provider’s stock worth $701,000 after buying an additional 1,496 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in FedEx during the third quarter worth about $511,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Friday, March 21st. Barclays dropped their price target on shares of FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on shares of FedEx from $323.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Raymond James dropped their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, UBS Group reduced their price target on FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $300.60.

FedEx Stock Up 1.1 %

Shares of NYSE:FDX opened at $243.78 on Thursday. FedEx Co. has a 52-week low of $217.22 and a 52-week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average of $257.92 and a two-hundred day moving average of $271.55. The stock has a market cap of $58.72 billion, a P/E ratio of 15.54, a PEG ratio of 1.11 and a beta of 1.23.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. During the same period in the prior year, the company posted $3.86 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.52 annualized dividend and a yield of 2.26%. FedEx’s payout ratio is 34.63%.

Insiders Place Their Bets

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of FedEx stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares in the company, valued at approximately $2,461,510.80. This represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is owned by insiders.

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.