FedEx Corporation $FDX Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC slightly trimmed its FedEx stake by 1.0% in the fourth quarter, leaving it with 316,096 shares valued at about $91.3 million. Institutional ownership remains high, with hedge funds and other institutions holding 84.47% of the stock.
• FedEx insiders sold shares in recent transactions, including Director Susan C. Schwab and EVP Kawal Preet. Insiders sold a total of 48,104 shares worth about $17.6 million over the last three months.
• Operational results and analyst sentiment remain strong: FedEx recently beat quarterly earnings and revenue estimates, and Wall Street largely remains constructive with an average Moderate Buy rating and a consensus price target of $398.04.

HighTower Advisors LLC cut its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,096 shares of the shipping service provider's stock after selling 3,283 shares during the period. HighTower Advisors LLC owned 0.13% of FedEx worth $91,307,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ulland Investment Advisors LLC acquired a new position in shares of FedEx during the fourth quarter worth $29,000. Tucker Asset Management LLC acquired a new position in shares of FedEx during the fourth quarter worth $29,000. ORG Partners LLC increased its position in shares of FedEx by 50.0% during the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider's stock worth $30,000 after purchasing an additional 35 shares in the last quarter. Camelot Portfolios LLC acquired a new position in shares of FedEx during the fourth quarter worth $31,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in shares of FedEx during the third quarter worth $27,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the company's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director directly owned 10,038 shares of the company's stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kawal Preet sold 4,900 shares of the company's stock in a transaction on 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 directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 in the last three months. Company insiders own 0.53% of the company's stock.

FedEx Stock Performance

Shares of FDX stock opened at $374.84 on Wednesday. The firm has a market capitalization of $89.44 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The business has a fifty day moving average of $369.29 and a 200 day moving average of $330.46. FedEx Corporation has a 1 year low of $214.35 and a 1 year high of $404.03.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating 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 company had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period in the prior year, the company earned $4.51 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. As a group, research analysts expect that FedEx Corporation will post 19.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FDX. The Goldman Sachs Group upped their price target on FedEx from $364.00 to $369.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Zacks Research downgraded FedEx from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 18th. Raymond James Financial raised their target price on FedEx from $305.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Evercore raised their target price on FedEx from $364.00 to $380.00 in a research note on Tuesday, February 24th. Finally, Weiss Ratings upgraded FedEx from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday. Eighteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and an average price target of $398.04.

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.

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