Teacher Retirement System of Texas Acquires 30,376 Shares of FedEx Corporation (NYSE:FDX)

Teacher Retirement System of Texas boosted its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 221.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,068 shares of the shipping service provider's stock after purchasing an additional 30,376 shares during the period. Teacher Retirement System of Texas' holdings in FedEx were worth $10,743,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FDX. Norges Bank acquired a new position in FedEx during the fourth quarter valued at approximately $807,352,000. Dodge & Cox lifted its position in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after buying an additional 734,268 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of FedEx by 18,202.1% in the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock valued at $133,003,000 after buying an additional 542,605 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $145,733,000. Finally, Franklin Resources Inc. lifted its position in shares of FedEx by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after buying an additional 323,115 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Down 2.5%

Shares of FedEx stock traded down $6.10 on Monday, reaching $235.13. 2,607,651 shares of the company's stock were exchanged, compared to its average volume of 1,854,373. The company has a market capitalization of $56.34 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. FedEx Corporation has a 52 week low of $194.30 and a 52 week high of $313.84. The firm's 50-day moving average is $222.83 and its two-hundred day moving average is $240.93. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period in the prior year, the business earned $5.41 EPS. Sell-side analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio is 34.36%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Wells Fargo & Company raised their price objective on FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 25th. Cfra Research raised FedEx to a "hold" rating in a research report on Thursday, March 20th. Bank of America lowered their target price on FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Finally, TD Cowen lowered their target price on FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $282.46.

Insiders Place Their Bets

In other FedEx news, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director directly owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. The trade was a 19.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.87% of the company's stock.

About FedEx

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.