FedEx Co. (NYSE:FDX) Shares Bought by TCTC Holdings LLC

TCTC Holdings LLC raised its stake in FedEx Co. (NYSE:FDX) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,752 shares of the shipping service provider’s stock after buying an additional 47 shares during the quarter. TCTC Holdings LLC’s holdings in FedEx were worth $1,301,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FDX. Assetmark Inc. grew its position in FedEx by 3.7% in the third quarter. Assetmark Inc. now owns 300,486 shares of the shipping service provider’s stock worth $82,237,000 after acquiring an additional 10,797 shares during the period. Verdence Capital Advisors LLC boosted its stake in FedEx by 22.3% during the third quarter. Verdence Capital Advisors LLC now owns 1,192 shares of the shipping service provider’s stock worth $326,000 after buying an additional 217 shares during the period. Markel Group Inc. increased its position in shares of FedEx by 7.7% during the third quarter. Markel Group Inc. now owns 195,000 shares of the shipping service provider’s stock valued at $53,368,000 after acquiring an additional 14,000 shares during the last quarter. United Bank purchased a new stake in shares of FedEx in the 3rd quarter valued at approximately $615,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of FedEx in the 3rd quarter worth approximately $1,180,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on FDX shares. TD Cowen cut their target price on FedEx from $334.00 to $328.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. UBS Group lowered their target price on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a report on Friday, September 20th. Loop Capital cut their price target on shares of FedEx from $317.00 to $288.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Stephens reissued an “overweight” rating and issued a $350.00 price objective on shares of FedEx in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average target price of $314.17.

FedEx Stock Performance

NYSE:FDX opened at $286.16 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.28 and a quick ratio of 1.24. The firm has a market cap of $69.91 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.13 and a beta of 1.17. The firm’s fifty day moving average price is $275.36 and its 200 day moving average price is $275.43. FedEx Co. has a 1-year low of $234.45 and a 1-year high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing the consensus estimate of $4.82 by ($1.22). FedEx had a net margin of 4.62% and a return on equity of 15.61%. The business had revenue of $21.58 billion during the quarter, compared to analyst estimates of $21.87 billion. During the same period in the prior year, the business earned $4.55 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts expect that FedEx Co. will post 19.59 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were given a $1.38 dividend. The ex-dividend date was Monday, September 9th. This represents a $5.52 annualized dividend and a dividend yield of 1.93%. FedEx’s dividend payout ratio is presently 34.05%.

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.