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

University of Texas Texas AM Investment Management Co. trimmed its holdings in FedEx Corporation (NYSE:FDX) by 28.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,355 shares of the shipping service provider’s stock after selling 4,917 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in FedEx were worth $3,537,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. BCS Wealth Management grew its holdings in FedEx by 5.3% during the third quarter. BCS Wealth Management now owns 995 shares of the shipping service provider’s stock worth $284,000 after acquiring an additional 50 shares during the period. Elite Wealth Management Inc. raised its position in FedEx by 262.8% during the third quarter. Elite Wealth Management Inc. now owns 17,542 shares of the shipping service provider’s stock valued at $5,001,000 after acquiring an additional 12,707 shares in the last quarter. Candriam S.C.A. raised its position in FedEx by 28.2% during the third quarter. Candriam S.C.A. now owns 40,096 shares of the shipping service provider’s stock valued at $11,473,000 after acquiring an additional 8,811 shares in the last quarter. Ethic Inc. lifted its holdings in FedEx by 4.8% in the third quarter. Ethic Inc. now owns 21,001 shares of the shipping service provider’s stock valued at $5,987,000 after acquiring an additional 957 shares during the period. Finally, StoneX Group Inc. lifted its holdings in FedEx by 46.9% in the third quarter. StoneX Group Inc. now owns 2,305 shares of the shipping service provider’s stock valued at $686,000 after acquiring an additional 736 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Tracy Brightman sold 26,611 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 12,245 shares in the company, valued at $3,877,746.60. This trade represents a 68.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gina Adams sold 3,014 shares of FedEx stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $317.06, for a total transaction of $955,618.84. Following the completion of the sale, the executive vice president directly owned 9,656 shares in the company, valued at $3,061,531.36. This represents a 23.79% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on FDX shares. Evercore upped their price objective on FedEx from $350.00 to $351.00 in a research report on Monday, September 28th. Raymond James Financial set a $162.00 target price on shares of FedEx in a report on Tuesday, November 3rd. UBS Group reiterated a “hold” rating on shares of FedEx in a research note on Friday, October 30th. HSBC upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $370.00 target price for the company in a research note on Thursday, October 29th. Finally, Citizens Jmp initiated coverage on shares of FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $359.16.

FedEx Stock Performance

NYSE FDX opened at $307.81 on Monday. The stock has a market capitalization of $72.09 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.24 and a beta of 1.27. The stock has a 50-day moving average of $302.89 and a 200 day moving average of $337.37. 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 twelve month low of $202.95 and a twelve month high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 EPS for the quarter, beating the consensus estimate of $3.34 by $0.40. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The company had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. During the same period last year, the company earned $3.83 earnings per share. FedEx’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that FedEx Corporation will post 18.29 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s dividend payout ratio is presently 30.01%.

FedEx Profile

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.