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

TIAA Trust National Association cut its stake in FedEx Co. (NYSE:FDX) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,169 shares of the shipping service provider’s stock after selling 5,755 shares during the period. TIAA Trust National Association’s holdings in FedEx were worth $12,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FDX. Willis Johnson & Associates Inc. bought a new stake in shares of FedEx in the 2nd quarter valued at $214,000. Carret Asset Management LLC boosted its position in FedEx by 0.4% during the second quarter. Carret Asset Management LLC now owns 29,615 shares of the shipping service provider’s stock valued at $8,880,000 after acquiring an additional 127 shares during the last quarter. Verus Capital Partners LLC grew its holdings in FedEx by 67.0% during the 2nd quarter. Verus Capital Partners LLC now owns 3,512 shares of the shipping service provider’s stock worth $1,053,000 after acquiring an additional 1,409 shares during the period. Eukles Asset Management grew its holdings in FedEx by 0.7% during the 2nd quarter. Eukles Asset Management now owns 9,830 shares of the shipping service provider’s stock worth $2,948,000 after acquiring an additional 73 shares during the period. Finally, Financial Counselors Inc. raised its position in shares of FedEx by 1.1% in the 2nd quarter. Financial Counselors Inc. now owns 4,012 shares of the shipping service provider’s stock worth $1,203,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Price Performance

Shares of NYSE:FDX opened at $293.48 on Wednesday. FedEx Co. has a 1-year low of $224.69 and a 1-year high of $313.84. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The stock has a market cap of $71.70 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The stock’s fifty day simple moving average is $294.85 and its two-hundred day simple moving average is $271.30.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $22.04 billion. During the same period last year, the firm earned $4.94 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 20.87 EPS for the current fiscal year.

FedEx Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stephens restated an “overweight” rating and set a $325.00 target price on shares of FedEx in a research report on Wednesday, June 26th. The Goldman Sachs Group raised their price objective on shares of FedEx from $316.00 to $333.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Argus boosted their target price on shares of FedEx from $325.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. TD Cowen started coverage on shares of FedEx in a research note on Thursday, August 22nd. They set a “buy” rating and a $334.00 target price on the stock. Finally, StockNews.com downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.96.

Insider Activity at FedEx

In other FedEx news, EVP Brie Carere sold 1,958 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the transaction, the executive vice president now owns 19,937 shares in the company, valued at approximately $6,189,042.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sriram Krishnasamy sold 8,421 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $310.14, for a total value of $2,611,688.94. Following the transaction, the chief executive officer now owns 12,246 shares in the company, valued at $3,797,974.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brie Carere sold 1,958 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $310.43, for a total value of $607,821.94. Following the completion of the sale, the executive vice president now directly owns 19,937 shares of the company’s stock, valued at $6,189,042.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,944 shares of company stock valued at $9,882,355. 8.73% of the stock is owned by insiders.

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.