TCTC Holdings LLC Trims Stake in FedEx Corporation (NYSE:FDX)

TCTC Holdings LLC reduced its stake in FedEx Corporation (NYSE:FDX) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,604 shares of the shipping service provider’s stock after selling 286 shares during the quarter. TCTC Holdings LLC’s holdings in FedEx were worth $1,122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Solidarity Wealth LLC increased its stake in shares of FedEx by 2.6% in the first quarter. Solidarity Wealth LLC now owns 19,102 shares of the shipping service provider’s stock worth $4,683,000 after purchasing an additional 475 shares in the last quarter. Portland Global Advisors LLC boosted its holdings in FedEx by 0.4% in the 1st quarter. Portland Global Advisors LLC now owns 28,660 shares of the shipping service provider’s stock worth $6,987,000 after buying an additional 119 shares during the period. Ridgewood Investments LLC increased its stake in FedEx by 2,141.7% in the 1st quarter. Ridgewood Investments LLC now owns 807 shares of the shipping service provider’s stock worth $197,000 after buying an additional 771 shares in the last quarter. TCW Group Inc. lifted its position in shares of FedEx by 17.6% in the first quarter. TCW Group Inc. now owns 29,576 shares of the shipping service provider’s stock valued at $7,210,000 after acquiring an additional 4,425 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of FedEx by 10.5% in the first quarter. LPL Financial LLC now owns 364,720 shares of the shipping service provider’s stock valued at $88,911,000 after acquiring an additional 34,656 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Stock Down 0.3%

Shares of NYSE:FDX opened at $242.48 on Tuesday. The firm has a market capitalization of $57.20 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.27 and a beta of 1.35. The business has a 50 day simple moving average of $227.34 and a two-hundred day simple moving average of $236.34. FedEx Corporation has a 1 year low of $194.29 and a 1 year high of $308.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the business earned $5.41 EPS. On average, equities analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.39%. The ex-dividend date was Monday, June 23rd. This is an increase from FedEx’s previous quarterly dividend of $1.38. FedEx’s dividend payout ratio (DPR) is currently 34.36%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FDX shares. Stifel Nicolaus set a $315.00 target price on FedEx in a research note on Wednesday, June 25th. Susquehanna lifted their price objective on shares of FedEx from $290.00 to $295.00 and gave the company a “positive” rating in a research report on Wednesday, June 25th. Barclays reissued an “overweight” rating and issued a $320.00 target price (down previously from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Sanford C. Bernstein reduced their price target on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a report on Friday, June 13th. Finally, Wells Fargo & Company boosted their price target on shares of FedEx from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $283.25.

Insider Activity at FedEx

In other FedEx news, Director Marvin R. Ellison sold 3,610 shares of the business’s stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director directly owned 7,720 shares of the company’s stock, valued at $1,829,176.80. The trade was a 31.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Brad Martin sold 2,123 shares of the firm’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 transaction, the director directly owned 8,935 shares in the company, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,343 shares of company stock worth $2,228,816 in the last 90 days. 8.87% of the stock is owned by corporate insiders.

FedEx Company Profile

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.