Employees Retirement System of Texas Has $4.95 Million Stake in FedEx Co. (NYSE:FDX)

Employees Retirement System of Texas boosted its stake in shares of FedEx Co. (NYSE:FDX) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,578 shares of the shipping service provider’s stock after acquiring an additional 2,100 shares during the quarter. Employees Retirement System of Texas’ holdings in FedEx were worth $4,945,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FDX. Fortitude Family Office LLC increased its position in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares in the last quarter. Peoples Financial Services CORP. acquired a new stake in shares of FedEx during the fourth quarter worth approximately $28,000. City Holding Co. bought a new position in shares of FedEx in the fourth quarter valued at approximately $28,000. Kentucky Trust Co acquired a new position in shares of FedEx in the 4th quarter worth approximately $28,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx during the 4th quarter worth approximately $28,000. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

Shares of FedEx stock opened at $205.13 on Tuesday. FedEx Co. has a 12 month low of $199.60 and a 12 month high of $313.84. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $49.15 billion, a PE ratio of 13.07, a PEG ratio of 1.11 and a beta of 1.24. The stock’s fifty day simple moving average is $250.91 and its 200 day simple moving average is $268.08.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the business earned $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 predict that FedEx Co. will post 19.14 EPS for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, March 10th. FedEx’s dividend payout ratio is 34.63%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of recent analyst reports. StockNews.com raised FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. TD Cowen decreased their price objective on shares of FedEx from $337.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company dropped their target price on shares of FedEx from $275.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a research note on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Finally, Stephens dropped their price objective on shares of FedEx from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $302.71.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 3,980 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total value of $1,100,271.00. Following the sale, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. The trade was a 30.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.87% of the stock is currently owned by company insiders.

About FedEx

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.