HighPoint Advisor Group LLC Increases Stock Position in FedEx Co. (NYSE:FDX)

HighPoint Advisor Group LLC lifted its holdings in FedEx Co. (NYSE:FDX) by 3.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,355 shares of the shipping service provider’s stock after acquiring an additional 273 shares during the quarter. HighPoint Advisor Group LLC’s holdings in FedEx were worth $2,222,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FDX. United Bank bought a new stake in shares of FedEx in the 3rd quarter worth approximately $615,000. Townsquare Capital LLC boosted its holdings in FedEx by 19.5% in the third quarter. Townsquare Capital LLC now owns 1,764 shares of the shipping service provider’s stock worth $483,000 after acquiring an additional 288 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of FedEx by 117.0% in the third quarter. Rockefeller Capital Management L.P. now owns 77,974 shares of the shipping service provider’s stock worth $21,343,000 after acquiring an additional 42,034 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of FedEx in the 3rd quarter worth about $7,177,000. Finally, Paloma Partners Management Co boosted its stake in FedEx by 18.2% in the 3rd quarter. Paloma Partners Management Co now owns 4,609 shares of the shipping service provider’s stock worth $1,261,000 after purchasing an additional 709 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Up 1.0 %

NYSE FDX opened at $244.07 on Tuesday. The stock’s 50-day moving average price is $255.97 and its 200-day moving average price is $270.59. The company has a market capitalization of $58.48 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm had revenue of $22.16 billion during the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the company earned $3.86 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.52 annualized dividend and a dividend yield of 2.26%. FedEx’s payout ratio is 34.63%.

Insider Transactions at FedEx

In related news, COO John Alan Smith sold 6,155 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John W. Dietrich purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average price of $273.98 per share, for a total transaction of $273,980.00. Following the purchase, the executive vice president now owns 9,067 shares in the company, valued at approximately $2,484,176.66. This represents a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 12,711 shares of company stock valued at $3,312,693 over the last 90 days. Company insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of analyst reports. Raymond James reduced their price objective on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $337.00 to $316.00 in a report on Tuesday, December 3rd. Loop Capital downgraded FedEx from a “hold” rating to a “sell” rating and cut their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. Truist Financial initiated coverage on FedEx in a research note on Thursday, March 13th. They issued a “buy” rating and a $305.00 price target for the company. Finally, Barclays dropped their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $302.71.

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.