Highland Capital Management LLC Sells 531 Shares of FedEx Co. (NYSE:FDX)

Highland Capital Management LLC decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,855 shares of the shipping service provider’s stock after selling 531 shares during the period. FedEx makes up about 0.8% of Highland Capital Management LLC’s holdings, making the stock its 28th largest holding. Highland Capital Management LLC’s holdings in FedEx were worth $12,865,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FDX. Financial Management Professionals Inc. boosted its stake in FedEx by 143.2% during 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 period. Baystate Wealth Management LLC lifted its stake in FedEx by 60.2% during the second quarter. Baystate Wealth Management LLC now owns 133 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. Global Wealth Management Investment Advisory Inc. bought a new stake in FedEx during the first quarter worth about $35,000. RVW Wealth LLC bought a new stake in FedEx during the third quarter worth about $40,000. Finally, Venturi Wealth Management LLC lifted its stake 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 own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FDX shares. Robert W. Baird lifted their price target on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Evercore ISI lifted their price target on FedEx from $327.00 to $351.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Morgan Stanley lifted their price target on FedEx from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. StockNews.com downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 11th. Finally, Jefferies Financial Group lifted their price objective on FedEx from $265.00 to $300.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus target price of $301.07.

Insider Transactions at FedEx

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

FedEx Stock Down 0.4 %

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

FedEx (NYSE:FDX) last posted its earnings results 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 return on equity of 16.60% and a net margin of 5.02%. The firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. During the same quarter in the prior year, the business earned $3.41 EPS. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, analysts forecast that FedEx Co. will post 17.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be issued a dividend of $1.26 per share. The ex-dividend date is Friday, March 8th. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.75%. FedEx’s dividend payout ratio (DPR) is 29.07%.

FedEx declared that its board has initiated a stock repurchase plan on Thursday, March 21st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the shipping service provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.