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

Employees Retirement System of Texas lifted its position in FedEx Co. (NYSE:FDX - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent filing with the 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 filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of FedEx in the fourth quarter valued at $807,352,000. Raymond James Financial Inc. purchased a new position in FedEx during the 4th quarter valued at about $234,028,000. ACR Alpine Capital Research LLC lifted its position in shares of FedEx by 62.9% in the fourth quarter. ACR Alpine Capital Research LLC now owns 852,767 shares of the shipping service provider's stock worth $239,909,000 after purchasing an additional 329,170 shares in the last quarter. Franklin Resources Inc. increased its stake in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after buying an additional 323,115 shares during the period. Finally, Bryn Mawr Capital Management LLC boosted its stake in shares of FedEx by 22,317.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 322,580 shares of the shipping service provider's stock valued at $90,751,000 after buying an additional 321,141 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered their target price on FedEx from $323.00 to $280.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Cfra Research raised shares of FedEx to a "hold" rating in a research report on Thursday, March 20th. Truist Financial started coverage on shares of FedEx in a research note on Thursday, March 13th. They issued a "buy" rating and a $305.00 price objective for the company. Stifel Nicolaus reduced their price target on FedEx from $364.00 to $354.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on FedEx in a report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $300.63.

Remove Ads

Insider Activity

In other FedEx news, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company's stock, valued at $2,461,510.80. This represents a 30.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares of the company's stock, valued at approximately $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 corporate insiders.

FedEx Price Performance

Shares of FDX traded up $1.06 during trading hours on Friday, hitting $207.46. The stock had a trading volume of 2,196,102 shares, compared to its average volume of 1,778,362. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The stock has a market capitalization of $49.71 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.11 and a beta of 1.24. The company's fifty day moving average is $244.07 and its two-hundred day moving average is $265.74. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate 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%. FedEx's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.86 earnings per share. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's payout ratio is presently 34.63%.

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.