Teacher Retirement System of Texas Sells 4,122 Shares of FedEx Corporation $FDX

Teacher Retirement System of Texas lessened its stake in shares of FedEx Corporation (NYSE:FDX) by 9.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,327 shares of the shipping service provider’s stock after selling 4,122 shares during the period. Teacher Retirement System of Texas’ holdings in FedEx were worth $11,649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System boosted its position in shares of FedEx by 2.3% during the 3rd quarter. New York State Teachers Retirement System now owns 207,077 shares of the shipping service provider’s stock worth $48,831,000 after purchasing an additional 4,734 shares in the last quarter. D.A. Davidson & CO. increased its position in FedEx by 10.6% in the 3rd quarter. D.A. Davidson & CO. now owns 48,424 shares of the shipping service provider’s stock valued at $11,419,000 after buying an additional 4,634 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in FedEx by 11.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider’s stock valued at $8,243,000 after buying an additional 3,514 shares in the last quarter. Savant Capital LLC increased its position in FedEx by 32.5% in the 3rd quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock valued at $9,437,000 after buying an additional 9,806 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in FedEx by 34.9% in the 3rd quarter. Pacer Advisors Inc. now owns 24,085 shares of the shipping service provider’s stock valued at $5,679,000 after buying an additional 6,234 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling at FedEx

In related news, EVP Kawal Preet sold 4,900 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the transaction, the director owned 10,038 shares in the company, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,104 shares of company stock valued at $17,599,006 over the last three months. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FDX. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of FedEx in a research report on Thursday, April 9th. HSBC raised FedEx from a “reduce” rating to a “hold” rating and set a $360.00 target price for the company in a research report on Friday, March 20th. Zacks Research lowered FedEx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FedEx in a research report on Monday, December 29th. Finally, Stephens reaffirmed an “overweight” rating and issued a $435.00 target price on shares of FedEx in a research report on Tuesday, April 14th. Eighteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus target price of $398.04.

FedEx News Roundup

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: Recent price momentum and strong multi-period returns have attracted attention, supporting investor confidence in the stock’s rally. FedEx (FDX) Valuation Check After Strong Multi Period Share Price Momentum
• Positive Sentiment: Sector strength: commentary that transport names (including FedEx) are rallying has buoyed sentiment because shipping strength is often seen as a proxy for economic resilience. When Transport Stocks Rally, Recession Risks Fade: Technicals
• Positive Sentiment: Strategic growth tie-up in Vietnam with Viettel Post may expand cross-border volumes and emerging-market exposure for FedEx. Viettel Post and FedEx Announce Strategic Partnership to Strengthen Cross-Border Logistics in Vietnam
• Negative Sentiment: Short interest rose materially in April — up ~23.6% to 3,275,799 shares (about 1.4% of shares outstanding) with a ~2.1 days-to-cover — increasing the potential for further selling pressure and volatility as shorts accumulate.
• Negative Sentiment: Valuation and macro caution: a recent analyst piece argues that stretched valuation and macro/technical risks still outweigh FedEx’s fundamentals, which can prompt profit-taking after the strong run. FedEx Corporation: Valuation, Technical, And Macro Downsides Still Outweigh Fundamental Soundness
• Negative Sentiment: Regulatory/operational headwind: carriers (including FedEx) are expected to reimburse customers via the CBP tariff refund portal, which could mean near-term cash outflows and customer-relations costs. UPS, FedEx, DHL Set to Reimburse Customers as CBP Tariff Portal Goes Live

FedEx Stock Down 1.2%

Shares of NYSE FDX opened at $387.83 on Friday. The stock has a market capitalization of $92.54 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.49 and a beta of 1.28. The company has a 50-day moving average price of $369.88 and a 200-day moving average price of $314.62. FedEx Corporation has a 1 year low of $204.33 and a 1 year high of $399.67. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $4.51 earnings per share. On average, equities research analysts forecast that FedEx Corporation will post 19.72 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th were issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, March 9th. FedEx’s dividend payout ratio (DPR) is currently 30.87%.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.