Employees Retirement System of Texas Grows Stock Position in FedEx Co. (NYSE:FDX)

Employees Retirement System of Texas grew its stake in shares of FedEx Co. (NYSE:FDX - Free Report) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,578 shares of the shipping service provider's stock after buying an additional 2,100 shares during the quarter. Employees Retirement System of Texas' holdings in FedEx were worth $4,945,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FDX. Transce3nd LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $26,000. Kentucky Trust Co bought a new stake in FedEx in the fourth quarter valued at $28,000. Pilgrim Partners Asia Pte Ltd bought a new stake in FedEx in the fourth quarter valued at $28,000. Activest Wealth Management purchased a new position in FedEx during the 4th quarter valued at $29,000. Finally, R Squared Ltd purchased a new stake in shares of FedEx in the 4th quarter worth about $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Up 1.3%

Shares of FedEx stock traded up $2.88 during trading on Thursday, hitting $220.03. 1,461,663 shares of the stock traded hands, compared to its average volume of 1,824,050. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. The stock's fifty day simple moving average is $219.20 and its 200 day simple moving average is $253.45. The firm has a market cap of $52.72 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36. FedEx Co. has a 52-week low of $194.30 and a 52-week high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22.16 billion for the quarter, compared to analysts' expectations of $21.96 billion. During the same quarter in the prior year, the company earned $3.86 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO John Alan Smith sold 6,155 shares of the stock in a transaction on 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 in the company, valued at approximately $5,686,161.85. This represents a 20.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FDX shares. UBS Group decreased their price objective on FedEx from $331.00 to $311.00 and set a "buy" rating for the company in a report on Wednesday. BMO Capital Markets lowered their price target on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Truist Financial reduced their price objective on FedEx from $305.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Jefferies Financial Group upgraded shares of FedEx from a "hold" rating to a "buy" rating and lowered their target price for the company from $300.00 to $275.00 in a research note on Monday, March 24th. Finally, Wall Street Zen raised shares of FedEx from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $296.17.

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.