Highland Capital Management LLC Sells 2,498 Shares of FedEx Co. (NYSE:FDX)

Highland Capital Management LLC trimmed its holdings in FedEx Co. (NYSE:FDX) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,006 shares of the shipping service provider’s stock after selling 2,498 shares during the period. FedEx comprises about 0.8% of Highland Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Highland Capital Management LLC’s holdings in FedEx were worth $13,412,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in FedEx during the 1st quarter worth approximately $1,667,000. Allegheny Financial Group LTD bought a new stake in shares of FedEx during the first quarter worth $203,000. Hilltop National Bank acquired a new stake in shares of FedEx during the first quarter worth $476,000. Csenge Advisory Group lifted its position in FedEx by 14.9% in the 1st quarter. Csenge Advisory Group now owns 2,297 shares of the shipping service provider’s stock valued at $666,000 after acquiring an additional 298 shares in the last quarter. Finally, Czech National Bank boosted its stake in FedEx by 6.4% in the 3rd quarter. Czech National Bank now owns 45,909 shares of the shipping service provider’s stock worth $12,564,000 after purchasing an additional 2,767 shares during the period. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Down 0.3 %

Shares of FDX opened at $272.12 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The firm’s 50 day moving average is $279.10 and its 200-day moving average is $274.84. The stock has a market capitalization of $66.96 billion, a PE ratio of 15.79, a P/E/G ratio of 1.06 and a beta of 1.17.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The company had revenue of $21.58 billion for the quarter, compared to the consensus estimate of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $4.55 EPS. Equities research analysts forecast that FedEx Co. will post 19.6 EPS for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $5.52 dividend on an annualized basis and a yield of 2.03%. FedEx’s payout ratio is 32.04%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FDX. UBS Group reduced their price objective on FedEx from $333.00 to $311.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and set a $350.00 price target on shares of FedEx in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on shares of FedEx from $359.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Stifel Nicolaus reduced their target price on shares of FedEx from $327.00 to $321.00 and set a “buy” rating for the company in a report on Friday, September 20th. Finally, Raymond James decreased their target price on shares of FedEx from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $314.17.

FedEx Company 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.