FedEx Corporation (NYSE:FDX) Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association has reduced its holdings in FedEx Corporation by 15.6%, now owning $3.61 million worth of stock after selling 2,724 shares in the first quarter.
• FedEx reported a quarterly EPS of $6.07, exceeding analysts' expectations, alongside a revenue of $22.20 billion for the quarter.
• The company recently announced a dividend increase to $1.45 per share, reflecting a 2.7% yield, which is part of a consistent dividend payout strategy.

TIAA Trust National Association trimmed its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 15.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,793 shares of the shipping service provider's stock after selling 2,724 shares during the period. TIAA Trust National Association's holdings in FedEx were worth $3,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after purchasing an additional 207 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of FedEx in the 4th quarter valued at about $18,703,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx in the 4th quarter valued at about $28,000. Aviva PLC raised its stake in FedEx by 68.7% during the 4th quarter. Aviva PLC now owns 139,538 shares of the shipping service provider's stock valued at $39,256,000 after acquiring an additional 56,803 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in FedEx by 3.6% during the 4th quarter. Russell Investments Group Ltd. now owns 384,292 shares of the shipping service provider's stock valued at $108,112,000 after acquiring an additional 13,395 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director R Brad Martin sold 2,123 shares of the firm's stock in a transaction 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 sale, the director owned 8,935 shares in the company, valued at $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the sale, the director owned 15,513 shares in the company, valued at $3,696,592.77. This trade represents a 18.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,343 shares of company stock valued at $2,228,816. Corporate insiders own 8.87% of the company's stock.

FedEx Price Performance

FedEx stock traded up $4.91 during mid-day trading on Tuesday, hitting $222.40. 1,972,807 shares of the company were exchanged, compared to its average volume of 1,922,230. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The business's 50 day simple moving average is $227.86 and its two-hundred day simple moving average is $234.49. The company has a market capitalization of $52.46 billion, a P/E ratio of 13.18, a PEG ratio of 1.13 and a beta of 1.30. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping the consensus estimate of $5.98 by $0.09. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter last year, the business posted $5.41 earnings per share. Analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were given a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.6%. FedEx's dividend payout ratio (DPR) is 34.36%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FDX. TD Cowen reduced their price objective on FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Stephens reaffirmed an "overweight" rating and set a $300.00 price objective on shares of FedEx in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upped their price objective on FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Stifel Nicolaus set a $315.00 price objective on FedEx in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised FedEx from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $283.25.

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.