FedEx Corporation $FDX Stock: University of Texas Texas AM Investment Management Co. Lowers Holdings

Key Points

• University of Texas Texas AM Investment Management Co. cut its FedEx stake by 28.5% in the third quarter, selling 4,917 shares and ending the period with 12,355 shares valued at about $3.54 million. Institutional investors collectively own 84.47% of the stock.
• FedEx reported quarterly EPS of $3.74, beating the $3.34 consensus estimate, while revenue of $22.93 billion also topped expectations and rose 12.3% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $359.16. Two executives also disclosed stock sales in late October and early November.

University of Texas Texas AM Investment Management Co. reduced its position in FedEx Corporation (NYSE:FDX - Free Report) by 28.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,355 shares of the shipping service provider's stock after selling 4,917 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in FedEx were worth $3,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of FedEx in the 2nd quarter worth $6,508,103,000. Primecap Management Co. CA purchased a new position in FedEx during the 2nd quarter worth $2,554,138,000. Dimensional Fund Advisors LP grew its stake in FedEx by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider's stock worth $936,688,000 after buying an additional 52,963 shares during the last quarter. Bank of New York Mellon Corp increased its position in FedEx by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider's stock valued at $760,328,000 after buying an additional 125,950 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in FedEx during the 2nd quarter valued at about $579,171,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FedEx

In related news, EVP Tracy B. Brightman sold 26,611 shares of FedEx stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the completion of the sale, the executive vice president owned 12,245 shares of the company's stock, valued at $3,877,746.60. The trade was a 68.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gina F. Adams sold 3,014 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the completion of the sale, the executive vice president owned 9,656 shares in the company, valued at approximately $3,061,531.36. This represents a 23.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.65% of the stock is currently owned by corporate insiders.

FedEx Trading Down 0.1%

NYSE:FDX opened at $307.81 on Monday. The company has a market capitalization of $72.09 billion, a P/E ratio of 18.93, a PEG ratio of 1.24 and a beta of 1.27. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. FedEx Corporation has a 12 month low of $202.95 and a 12 month high of $345.36. The firm has a fifty day simple moving average of $302.89 and a 200-day simple moving average of $337.37.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.40. The firm had revenue of $22.93 billion for the quarter, compared to the consensus estimate of $22.73 billion. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The firm's revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.83 EPS. On average, equities research analysts anticipate that FedEx Corporation will post 18.29 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx's dividend payout ratio is currently 30.01%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Sanford C. Bernstein set a $377.00 price target on FedEx in a research note on Monday, October 26th. JPMorgan Chase & Co. boosted their price target on FedEx from $399.00 to $400.00 and gave the stock an "overweight" rating in a research note on Thursday, October 29th. Citigroup boosted their price target on FedEx from $373.00 to $374.00 and gave the stock a "buy" rating in a research note on Monday, November 2nd. Wall Street Zen upgraded shares of FedEx to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of FedEx from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $359.16.

About FedEx

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution.

Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.

FedEx is headquartered in Memphis, Tennessee.

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