Employees Retirement System of Texas Has $4.95 Million Stock Position 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 SEC. The fund owned 17,578 shares of the shipping service provider’s stock after purchasing an additional 2,100 shares during the period. Employees Retirement System of Texas’ holdings in FedEx were worth $4,945,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. bLong Financial LLC acquired a new stake in shares of FedEx in the 4th quarter valued at approximately $391,000. Virtu Financial LLC acquired a new stake in FedEx in the third quarter valued at $3,405,000. Lodestone Wealth Management LLC bought a new position in shares of FedEx in the 4th quarter valued at about $461,000. Wedmont Private Capital grew its position in shares of FedEx by 4.1% in the 4th quarter. Wedmont Private Capital now owns 2,329 shares of the shipping service provider’s stock valued at $631,000 after acquiring an additional 91 shares during the period. Finally, GFS Advisors LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $26,855,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Down 2.4 %

FDX stock opened at $205.13 on Tuesday. The company has a market cap of $49.15 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.11 and a beta of 1.24. 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 Co. has a 52 week low of $199.60 and a 52 week high of $313.84. The business has a 50-day simple moving average of $250.91 and a 200 day simple moving average of $268.08.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The firm had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $3.86 EPS. Sell-side analysts anticipate that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Dividend Announcement

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

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares of the company’s stock, valued at approximately $5,686,161.85. The trade was a 20.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the director now owns 8,904 shares of the company’s stock, 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.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and reduced their price target for the stock from $300.00 to $275.00 in a report on Monday, March 24th. Wells Fargo & Company decreased their target price on FedEx from $275.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. UBS Group cut 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. BMO Capital Markets decreased their price objective on shares of FedEx from $330.00 to $275.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Finally, Stifel Nicolaus cut their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $302.71.

FedEx 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.