FedEx Corporation $FDX Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its stake in shares of FedEx Corporation (NYSE:FDX) by 23.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 274,976 shares of the shipping service provider’s stock after selling 85,072 shares during the quarter. HighTower Advisors LLC owned about 0.12% of FedEx worth $86,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in FDX. Hollencrest Capital Management bought a new position in FedEx during the 1st quarter worth $25,000. Bayban bought a new stake in FedEx in the first quarter valued at $26,000. Solstein Capital LLC bought a new stake in FedEx in the second quarter valued at $27,000. EFG International AG acquired a new position in shares of FedEx during the fourth quarter valued at $27,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of FedEx during the third quarter valued at $28,000. Institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, Director Paul Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were 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 directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on FDX. Stephens raised shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. TD Cowen decreased their target price on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Weiss Ratings lowered shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 2nd. Stifel Nicolaus cut their price target on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Finally, Raymond James Financial set a $330.00 price objective on FedEx in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Price Performance

NYSE FDX opened at $322.11 on Tuesday. FedEx Corporation has a 12 month low of $177.65 and a 12 month high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The firm has a market capitalization of $76.23 billion, a PE ratio of 17.40, a P/E/G ratio of 1.71 and a beta of 1.32. The company’s 50 day simple moving average is $319.29 and its 200 day simple moving average is $348.55.

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

FedEx Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s payout ratio is 26.36%.

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.