HighTower Advisors LLC Lowers Holdings in FedEx Corporation $FDX

HighTower Advisors LLC lowered its position in FedEx Corporation (NYSE:FDX) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,096 shares of the shipping service provider’s stock after selling 3,283 shares during the period. HighTower Advisors LLC’s holdings in FedEx were worth $91,307,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. TD Private Client Wealth LLC raised its position in shares of FedEx by 57.8% in the fourth quarter. TD Private Client Wealth LLC now owns 4,568 shares of the shipping service provider’s stock worth $1,320,000 after acquiring an additional 1,673 shares during the period. Tucker Asset Management LLC acquired a new position in shares of FedEx in the fourth quarter worth about $29,000. Mission Wealth Management LP raised its position in shares of FedEx by 7.1% in the fourth quarter. Mission Wealth Management LP now owns 4,202 shares of the shipping service provider’s stock worth $1,214,000 after acquiring an additional 278 shares during the period. RiverFront Investment Group LLC acquired a new position in shares of FedEx in the fourth quarter worth about $274,000. Finally, North Dakota State Investment Board acquired a new position in shares of FedEx in the fourth quarter worth about $2,122,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FDX shares. HSBC upgraded shares of FedEx from a “reduce” rating to a “hold” rating and set a $360.00 price objective for the company in a research report on Friday, March 20th. Argus upped their price objective on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Stephens reiterated an “overweight” rating and issued a $435.00 price objective on shares of FedEx in a research report on Tuesday, April 14th. Barclays reiterated a “buy” rating on shares of FedEx in a research report on Monday, May 11th. Finally, Citigroup upped their price objective on shares of FedEx from $327.00 to $401.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Eighteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $398.04.

FedEx Stock Up 1.4%

FDX opened at $374.84 on Wednesday. FedEx Corporation has a twelve month low of $214.35 and a twelve month high of $404.03. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $369.29 and a 200 day moving average price of $330.46. The company has a market cap of $89.44 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The firm had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter in the prior year, the firm earned $4.51 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts expect that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

Insider Activity at FedEx

In other FedEx news, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the sale, the executive vice president owned 19,403 shares in the company, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares of the company’s stock, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock worth $17,599,006 in the last quarter. Company insiders own 0.53% of the company’s stock.

FedEx 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.