FedEx Corporation $FDX Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its stake in FedEx Corporation (NYSE:FDX) by 23.6% during the second quarter, HoldingsChannel.com reports. The fund owned 274,976 shares of the shipping service provider’s stock after selling 85,072 shares during the period. HighTower Advisors LLC’s holdings in FedEx were worth $86,103,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FDX. Hollencrest Capital Management purchased a new position in FedEx in the 1st quarter worth about $25,000. Bayban purchased a new stake in FedEx during the first quarter valued at about $26,000. Solstein Capital LLC acquired a new position in shares of FedEx in the second quarter worth about $27,000. Cedar Mountain Advisors LLC increased its position in shares of FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 41 shares in the last quarter. Finally, EFG International AG purchased a new position in shares of FedEx in the fourth quarter worth approximately $27,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 0.1%

Shares of NYSE:FDX opened at $322.11 on Tuesday. The firm has a fifty day moving average of $319.29 and a two-hundred day moving average of $348.55. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12-month low of $177.65 and a 12-month high of $345.36. The firm has a market capitalization of $76.23 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.71 and a beta of 1.32.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion for the quarter. On average, equities analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s dividend payout ratio is presently 26.36%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Seaport Research Partners began coverage on shares of FedEx in a research report on Wednesday, May 27th. They issued a “buy” rating for the company. Wall Street Zen upgraded FedEx to a “hold” rating in a report on Saturday, August 8th. Stifel Nicolaus decreased their target price on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. HSBC lowered their price target on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Buying and Selling at FedEx

In related news, Director Paul Walsh sold 5,042 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.65% of the stock is owned by company insiders.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.