Teacher Retirement System of Texas Purchases 12,138 Shares of FedEx Co. (NYSE:FDX)

Teacher Retirement System of Texas boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 781.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,692 shares of the shipping service provider’s stock after buying an additional 12,138 shares during the period. Teacher Retirement System of Texas’ holdings in FedEx were worth $3,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of FedEx by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after acquiring an additional 67,502 shares during the last quarter. Franklin Resources Inc. raised its stake in FedEx by 8.6% in the third quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after purchasing an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in FedEx by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock worth $465,031,000 after buying an additional 11,100 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of FedEx by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider’s stock worth $422,202,000 after buying an additional 49,160 shares during the last quarter. Finally, Sentry LLC raised its position in shares of FedEx by 0.4% during the 4th quarter. Sentry LLC now owns 1,217,117 shares of the shipping service provider’s stock valued at $342,412,000 after buying an additional 5,404 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In other news, Director Susan C. Schwab sold 3,980 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total value of $1,100,271.00. Following 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amy B. Lane purchased 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at $91,927.98. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.87% of the company’s stock.

FedEx Trading Up 5.2 %

FDX opened at $242.27 on Tuesday. The stock has a market cap of $58.35 billion, a PE ratio of 15.44, a PEG ratio of 1.11 and a beta of 1.23. The business has a 50 day moving average of $259.31 and a 200-day moving average of $272.04. 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.

FedEx (NYSE:FDX) last announced its 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). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.86 EPS. Equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Monday, March 10th. FedEx’s dividend payout ratio is 34.63%.

Analyst Ratings Changes

FDX has been the topic of a number of research analyst reports. Piper Sandler cut FedEx to a “neutral” rating in a research note on Monday, February 3rd. StockNews.com upgraded FedEx from a “hold” rating to a “buy” rating in a research report on Friday, December 20th. UBS Group decreased their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and cut their price objective for the company from $300.00 to $275.00 in a research note on Monday. Finally, Raymond James decreased their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $300.60.

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.