Highland Capital Management LLC Trims Stock Position in FedEx Co. (NYSE:FDX)

Highland Capital Management LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,988 shares of the shipping service provider’s stock after selling 2,018 shares during the quarter. FedEx makes up approximately 0.8% of Highland Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Highland Capital Management LLC’s holdings in FedEx were worth $13,219,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC grew its holdings in FedEx by 144.4% in the fourth quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 52 shares during the last quarter. Evermay Wealth Management LLC lifted its stake in shares of FedEx by 72.7% during the third quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after buying an additional 40 shares during the period. Peoples Financial Services CORP. acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. City Holding Co. acquired a new stake in shares of FedEx during the fourth quarter worth $28,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of FedEx during the third quarter worth $31,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FedEx

In related news, Director Amy B. Lane bought 333 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $276.06 per share, with a total value of $91,927.98. Following the transaction, the director now directly owns 333 shares of the company’s stock, valued at approximately $91,927.98. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 3,980 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares in the company, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FDX shares. StockNews.com upgraded shares of FedEx from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Citigroup boosted their target price on shares of FedEx from $301.00 to $331.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus decreased their target price on shares of FedEx from $368.00 to $364.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Bank of America boosted their target price on shares of FedEx from $325.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Barclays lifted their price objective on shares of FedEx from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $325.43.

FedEx Price Performance

FedEx stock opened at $275.34 on Thursday. The firm has a market cap of $66.32 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. FedEx Co. has a 52-week low of $234.45 and a 52-week high of $313.84. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $281.09 and its two-hundred day moving average is $282.86.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.17. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. During the same period in the prior year, the firm posted $3.99 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, December 9th. FedEx’s dividend payout ratio is presently 35.18%.

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.