TCW Group Inc. Has $22.30 Million Position in FedEx Corporation (NYSE:FDX)

TCW Group Inc. reduced its position in shares of FedEx Corporation (NYSE:FDX) by 17.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 114,291 shares of the shipping service provider’s stock after selling 24,000 shares during the period. TCW Group Inc.’s holdings in FedEx Corporation were worth $22,304,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Teachers Advisors LLC increased its position in shares of FedEx Corporation by 10.9% in the fourth quarter. Teachers Advisors LLC now owns 306,940 shares of the shipping service provider’s stock valued at $57,152,000 after buying an additional 30,257 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of FedEx Corporation during the fourth quarter valued at about $1,209,000. Macquarie Group Ltd. increased its position in shares of FedEx Corporation by 3.2% in the fourth quarter. Macquarie Group Ltd. now owns 35,090 shares of the shipping service provider’s stock valued at $6,534,000 after buying an additional 1,090 shares during the last quarter. Atalanta Sosnoff Capital LLC increased its position in shares of FedEx Corporation by 21.2% in the first quarter. Atalanta Sosnoff Capital LLC now owns 208,111 shares of the shipping service provider’s stock valued at $40,612,000 after buying an additional 36,459 shares during the last quarter. Finally, Triangle Securities Wealth Management increased its position in shares of FedEx Corporation by 1.9% in the first quarter. Triangle Securities Wealth Management now owns 2,376 shares of the shipping service provider’s stock valued at $464,000 after buying an additional 45 shares during the last quarter. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FedEx Corporation (NYSE:FDX) traded up 0.31% during trading on Friday, reaching $206.00. 930,437 shares of the company’s stock were exchanged. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99. The firm has a market capitalization of $55.26 billion, a PE ratio of 18.61 and a beta of 1.27. The company’s 50-day moving average price is $211.69 and its 200 day moving average price is $199.13.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The company had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. During the same period in the prior year, the company earned $3.30 EPS. FedEx Corporation’s revenue was up 21.0% on a year-over-year basis. Analysts predict that FedEx Corporation will post $13.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.97%. FedEx Corporation’s payout ratio is 18.08%.

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Several research analysts have issued reports on the stock. Cowen and Company reissued a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Tuesday, July 11th. Loop Capital reissued a “buy” rating and set a $234.00 price objective on shares of FedEx Corporation in a research report on Tuesday, July 4th. Sanford C. Bernstein reissued a “market perform” rating and set a $220.00 price objective on shares of FedEx Corporation in a research report on Monday, July 3rd. Vetr downgraded shares of FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 target price on the stock. in a report on Monday, June 26th. Finally, BMO Capital Markets lifted their target price on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $221.78.

In other FedEx Corporation news, CEO David L. Cunningham, Jr. sold 17,565 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the completion of the sale, the chief executive officer now directly owns 29,148 shares of the company’s stock, valued at $6,150,228. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP John L. Merino sold 7,200 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the sale, the vice president now directly owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The disclosure for this sale can be found here. Insiders sold a total of 77,757 shares of company stock valued at $16,447,426 over the last three months. 8.67% of the stock is owned by corporate insiders.

About FedEx Corporation

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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