Teachers Advisors LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 742,352 shares of the shipping service provider’s stock after buying an additional 26,247 shares during the quarter. Teachers Advisors LLC owned 0.28% of FedEx worth $185,247,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FDX. Krilogy Financial LLC grew its stake in FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares in the last quarter. National Asset Management Inc. grew its stake in FedEx by 15.6% in the second quarter. National Asset Management Inc. now owns 1,909 shares of the shipping service provider’s stock worth $415,000 after purchasing an additional 257 shares in the last quarter. Verition Fund Management LLC grew its stake in FedEx by 32.0% in the second quarter. Verition Fund Management LLC now owns 2,097 shares of the shipping service provider’s stock worth $456,000 after purchasing an additional 508 shares in the last quarter. High Falls Advisors Inc grew its stake in FedEx by 2.1% in the second quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock worth $244,000 after purchasing an additional 23 shares in the last quarter. Finally, GRATRY & Co LLC bought a new position in FedEx in the second quarter worth approximately $269,000. 74.65% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on FDX. Bank of America reissued a “buy” rating and issued a $315.00 price objective on shares of FedEx in a research note on Friday, January 12th. Wells Fargo & Co set a $275.00 target price on FedEx and gave the company a “buy” rating in a research report on Wednesday, December 20th. Oppenheimer reaffirmed a “buy” rating and set a $265.00 target price (up previously from $236.00) on shares of FedEx in a research report on Wednesday, December 20th. Zacks Investment Research raised FedEx from a “hold” rating to a “buy” rating and set a $297.00 target price on the stock in a research report on Friday, January 5th. Finally, Sanford C. Bernstein raised FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 target price on the stock in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. FedEx currently has an average rating of “Buy” and an average price target of $275.04.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the 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 firm had revenue of $16.30 billion during the quarter, compared to analyst estimates of $15.67 billion. During the same quarter in the prior year, the business posted $2.80 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. sell-side analysts expect that FedEx Co. will post 13.45 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, March 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.81%. FedEx’s dividend payout ratio is presently 18.38%.
In other news, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction 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 owns 187,025 shares in the company, valued at approximately $46,892,778.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David P. Steiner sold 3,016 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the sale, the director now owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,541 shares of company stock valued at $13,692,142. Company insiders own 8.45% of the company’s stock.
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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.
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