FedEx Co. (NYSE:FDX) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its position in FedEx Co. (NYSE:FDX) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 50,855 shares of the shipping service provider’s stock after selling 531 shares during the period. FedEx comprises about 0.8% of Highland Capital Management LLC’s holdings, making the stock its 28th biggest position. Highland Capital Management LLC’s holdings in FedEx were worth $12,865,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FDX. Financial Management Professionals Inc. raised its position in shares of FedEx by 143.2% in the fourth quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after buying an additional 63 shares during the last quarter. Baystate Wealth Management LLC raised its position in shares of FedEx by 60.2% in the second quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock valued at $33,000 after buying an additional 50 shares during the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of FedEx in the first quarter valued at approximately $35,000. RVW Wealth LLC acquired a new position in FedEx during the third quarter worth approximately $40,000. Finally, Venturi Wealth Management LLC increased its position in FedEx by 42.5% during the third quarter. Venturi Wealth Management LLC now owns 151 shares of the shipping service provider’s stock worth $40,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity at FedEx

In related news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Susan C. Schwab sold 6,145 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $288.02, for a total value of $1,769,882.90. Following the completion of the transaction, the director now owns 7,865 shares in the company, valued at approximately $2,265,277.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $289.11, for a total transaction of $794,763.39. Following the completion of the transaction, the vice president now owns 486 shares of the company’s stock, valued at approximately $140,507.46. The disclosure for this sale can be found here. 8.73% of the stock is currently owned by insiders.

FedEx Stock Down 0.4 %

FDX stock opened at $287.88 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 0.76. FedEx Co. has a fifty-two week low of $213.80 and a fifty-two week high of $291.27. The firm’s 50-day simple moving average is $248.74 and its 200 day simple moving average is $252.07. The stock has a market cap of $70.84 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20.

FedEx (NYSE:FDX) last released its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.37. FedEx had a net margin of 5.02% and a return on equity of 16.60%. The business had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $21.95 billion. During the same quarter last year, the company earned $3.41 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that FedEx Co. will post 17.6 EPS for the current year.

FedEx declared that its board has authorized a stock buyback plan on Thursday, March 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be given a $1.26 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.75%. FedEx’s dividend payout ratio is presently 29.07%.

Analyst Ratings Changes

Several brokerages recently commented on FDX. StockNews.com lowered shares of FedEx from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 11th. Stephens dropped their price target on shares of FedEx from $330.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. Oppenheimer reiterated a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Stifel Nicolaus decreased their price objective on shares of FedEx from $305.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Finally, Melius upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.07.

FedEx 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.