Employees Retirement System of Texas reduced its stake in FedEx Co. (NYSE:FDX) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,100 shares of the shipping service provider’s stock after selling 5,400 shares during the quarter. Employees Retirement System of Texas’ holdings in FedEx were worth $22,983,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Krilogy Financial LLC boosted its position in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after buying an additional 13 shares during the last quarter. RNC Capital Management LLC lifted its position in FedEx by 0.8% in the 2nd quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock worth $434,000 after buying an additional 15 shares during the last quarter. High Falls Advisors Inc lifted its position in FedEx by 2.1% in the 2nd quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock worth $244,000 after buying an additional 23 shares during the last quarter. Finally, Sii Investments Inc. WI lifted its position in FedEx by 1.3% in the 2nd quarter. Sii Investments Inc. WI now owns 3,402 shares of the shipping service provider’s stock worth $739,000 after buying an additional 45 shares during the last quarter. 73.94% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on FDX shares. Stephens set a $306.00 price target on FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Goldman Sachs Group initiated coverage on FedEx in a research report on Monday, November 13th. They set a “buy” rating and a $270.00 price target on the stock. Citigroup restated a “buy” rating and set a $280.00 price target on shares of FedEx in a research report on Wednesday, December 20th. Robert W. Baird reissued a “buy” rating and issued a $280.00 target price on shares of FedEx in a report on Tuesday, January 9th. Finally, Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. FedEx currently has an average rating of “Buy” and an average price target of $275.04.
In other FedEx news, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the sale, the executive vice president now directly owns 187,025 shares in the company, valued at approximately $46,892,778.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director David P. Steiner sold 3,016 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the transaction, the director now owns 16,040 shares in the company, valued at $4,267,442. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,541 shares of company stock valued at $13,692,142. 8.45% of the stock is owned by company insiders.
Shares of FedEx Co. (NYSE:FDX) opened at $243.04 on Wednesday. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $274.66. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. The company has a market capitalization of $65,110.00, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.32.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. equities analysts forecast that FedEx Co. will post 13.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.82%. FedEx’s dividend payout ratio is presently 18.38%.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.