United Services Automobile Association Has $23.44 Million Stake in FedEx Co. (FDX)

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United Services Automobile Association cut its stake in shares of FedEx Co. (NYSE:FDX) by 18.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 145,307 shares of the shipping service provider’s stock after selling 33,787 shares during the period. United Services Automobile Association’s holdings in FedEx were worth $23,442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HC Financial Advisors Inc. increased its stake in shares of FedEx by 5.9% in the third quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock valued at $2,007,000 after purchasing an additional 464 shares during the period. MML Investors Services LLC increased its stake in shares of FedEx by 45.2% during the third quarter. MML Investors Services LLC now owns 33,062 shares of the shipping service provider’s stock valued at $7,961,000 after acquiring an additional 10,286 shares during the period. Commonwealth Bank of Australia increased its stake in shares of FedEx by 4.0% during the third quarter. Commonwealth Bank of Australia now owns 31,095 shares of the shipping service provider’s stock valued at $7,483,000 after acquiring an additional 1,200 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of FedEx by 108.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,964 shares of the shipping service provider’s stock valued at $714,000 after acquiring an additional 1,541 shares during the period. Finally, Guyasuta Investment Advisors Inc. acquired a new position in shares of FedEx during the third quarter valued at approximately $412,000. Hedge funds and other institutional investors own 71.39% of the company’s stock.

A number of research analysts recently commented on FDX shares. Daiwa Capital Markets set a $190.00 price objective on shares of FedEx and gave the company a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research note on Monday, December 3rd. BMO Capital Markets lowered their price objective on shares of FedEx to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 19th. They noted that the move was a valuation call. ValuEngine upgraded shares of FedEx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 26th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $233.00 price objective on shares of FedEx in a research note on Monday, December 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $234.74.

In other FedEx news, Director David P. Steiner bought 7,000 shares of FedEx stock in a transaction that occurred on Wednesday, January 2nd. The stock was purchased at an average cost of $162.92 per share, for a total transaction of $1,140,440.00. Following the completion of the acquisition, the director now owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John L. Merino sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the sale, the vice president now owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Shares of NYSE:FDX opened at $177.98 on Friday. The company has a market cap of $46.46 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 0.87 and a beta of 1.63. FedEx Co. has a 1-year low of $150.94 and a 1-year high of $266.67. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.85.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.02). The business had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $17.71 billion. FedEx had a return on equity of 24.11% and a net margin of 7.23%. During the same quarter in the previous year, the business posted $3.18 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 15.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is 16.98%.

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FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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