TIAA Trust National Association Sells 5,755 Shares of FedEx Co. (NYSE:FDX)

TIAA Trust National Association reduced its stake in shares of FedEx Co. (NYSE:FDX) by 12.0% in the second quarter, HoldingsChannel.com reports. The fund owned 42,169 shares of the shipping service provider’s stock after selling 5,755 shares during the quarter. TIAA Trust National Association’s holdings in FedEx were worth $12,644,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FDX. Fortis Group Advisors LLC boosted its holdings in shares of FedEx by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in FedEx in the 4th quarter worth approximately $25,000. Private Wealth Management Group LLC purchased a new stake in FedEx in the fourth quarter worth approximately $28,000. Sachetta LLC bought a new position in FedEx during the fourth quarter valued at approximately $32,000. Finally, Northwest Financial Advisors purchased a new position in shares of FedEx during the fourth quarter worth approximately $33,000. Institutional investors own 84.47% of the company’s stock.

Insider Activity at FedEx

In other FedEx news, EVP Robert B. Carter sold 16,010 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $294.48, for a total value of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at $17,634,640.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $310.43, for a total value of $607,821.94. Following the transaction, the executive vice president now owns 19,937 shares in the company, valued at $6,189,042.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 16,010 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $294.48, for a total transaction of $4,714,624.80. Following the sale, the executive vice president now directly owns 59,884 shares of the company’s stock, valued at approximately $17,634,640.32. The disclosure for this sale can be found here. Insiders sold a total of 32,944 shares of company stock valued at $9,882,355 in the last 90 days. Corporate insiders own 8.73% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 26th. TD Cowen began coverage on FedEx in a research note on Thursday, August 22nd. They set a “buy” rating and a $334.00 price objective on the stock. UBS Group decreased their price objective on FedEx from $340.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Oppenheimer restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their price target on FedEx from $275.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $313.96.

FedEx Trading Down 1.8 %

NYSE FDX opened at $293.48 on Wednesday. The stock’s 50 day moving average is $294.85 and its 200 day moving average is $271.30. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $71.70 billion, a PE ratio of 17.03, a P/E/G ratio of 1.08 and a beta of 1.18. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $313.84.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.34 by $0.07. FedEx had a net margin of 4.94% and a return on equity of 16.70%. The company had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period last year, the business earned $4.94 EPS. FedEx’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts forecast that FedEx Co. will post 20.87 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.88%. FedEx’s payout ratio is currently 32.04%.

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.